By Chris King • 04 March 2022 • 21:20
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The average price of electricity in the wholesale market in Spain will go up 7.58 per cent this Saturday, March 5. In doing so, it will record the second most expensive day in history.
According to data published by the Iberian Energy Market (OMIE), collected by Europa Press, the average price of the ‘pool’ for this Saturday will be €366.55/MWh, about €25.85 more expensive than this Friday, when it reached €340.70/MWh.
By time slots, the maximum electricity price will be between 8pm and 9pm, at €409.3/MWh, while the minimum of €311/MWh, will be recorded between the hours of 4pm and 5pm.
The prices of the ‘pool’ have a direct impact on the regulated rate – the so-called PVPC – to which almost 11 million consumers in the country are subscribed, and serve as a reference for the other 17 million who have contracted their supply in the free market.
The electricity bill of an average user with the regulated tariff could have reached €131.29 in February, 111.5 per cent higher than the €62.08 euros of the same month last year, as reported by lasprovincias.es.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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