The price of electricity in Spain on Sunday, March 6

Image of Met Office weather map. Credit: metoffice.gov.uk

The price of electricity in Spain on Sunday, March 6, will be 740.98 per cent more expensive than last year

The average price of electricity in the wholesale market in Spain this Sunday, March 6, will rise by 3.40 per cent. This rise will mark the second most expensive day in Spanish history.

According to data published by the Operator of the Iberian Energy Market (OMIE), collected by Europa Press, the average price of the ‘pool’ this Sunday will be €379.03/MWh, some €12.48 more expensive than today’s €366.55 /MWh.

Tomorrow’s price will be eight times higher than a year ago, which was €45.07/MWh, making energy 740.98 per cent more expensive.

By time slots, the maximum price of €470.01/MWh will be between 8pm and 10pm, while the minimum of €334.21/MWh, will be registered between 3am and 4am.

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.

Last February, the average bill of a user on the regulated tariff reached €131.29. That would have been 111.5 per cent more than the €62.08 euros of the same month last year.

According to data from Facua-Consumers in Action, this year-on-year increase was the highest to date, exceeding the 103 per cent rise that occurred last December, when “its price also broke all records, standing at €140.62”.

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Written by

Chris King

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. Got a news story you want to share? Then get in touch at [email protected]

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