By Chris King • 06 March 2022 • 21:27
The average price of electricity in the wholesale market in Spain will rise by 16.76 per cent this Monday, March 7, making it the most expensive day in history, with an average of €442/MWh. This increase is a result of the rise in the price of natural gas due to the impact of the war in Ukraine.
According to data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, Monday’s cost is about €63 more expensive than today’s price of €379.03/MWh.
By time slots, the maximum price for this Sunday will be between 7pm and 8pm, reaching €500/MWh, while the minimum, of €379.02/MWh, will be registered between 11pm and midnight.
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 reached €131.29 in February, 111.5 per cent above the €62.08 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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