The price of electricity in Spain on Tuesday, March 8

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The price of electricity in Spain on Tuesday, March 8, will again be the most expensive in history

The average price of electricity in the wholesale market in Spain will rise 23.15 per cent this Tuesday, March 8, compared to today, Monday 7. This increase will create the most expensive day in history, due to the rise in the price of natural gas caused by the impact of the war in Ukraine.

According to data published by the Iberian Energy Market Operator (OMIE), the average price of the ‘pool’ for this Tuesday will be €544.98/MWh, exceeding the previous historical maximum of €442.54/MWh, which was registered today, by €102.4 euros.

By time slots, the maximum price this Tuesday will be between 7pm and 8pm, reaching €700/MWh, while the minimum, of €424.88/MWh, will be registered between the hours of 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.

So far in March, the average price of a megawatt per hour in the wholesale market stands at €366.43, almost €130 euros more than the average for December 2021, which at the time was the most expensive month in history, with an average price of €239, as reported by lasprovincias.es.

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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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