The price of electricity in Spain and Portugal on Sunday, March 13

The average price of electricity in Spain and Portugal on Sunday, March 13, will rise slightly by 0.75 per cent

The average price of electricity in the wholesale market in Spain and Portugal will rise slightly this Sunday, March 13, increasing by 0.75 per cent compared to today, Saturday 12.

Thankfully, the cost continues to be far from the historical maximum registered on March 8, when a high of €544.98/MWh was hit, due to the upward spiral of natural gas created by the impact of the war in Ukraine.

According to data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, the average price of the wholesale market this Sunday will be 247.89/MWh, one euro more expensive than today.

By time slots, the maximum price tomorrow will be €389.90/MWh, between the hours of 8pm and 9pm, while the minimum, of €48.50/MWh, will be registered between 5am and 6am.

Wholesale market prices have a direct impact on the regulated tariff, to which almost 11 million consumers in Spain are subscribed, and serve as a reference for the other 17 million who have contracted their supply on the free market.

Until this Sunday, the average price of the wholesale market had seen four consecutive days of decreases, and recovered levels similar to those registered before the Russian invasion of Ukraine.

Despite the moderation of recent days, the average price of a megawatt so far in March stands at €358.45/MWh, almost €120 more than in December 2021, which had been, until now, the most expensive month in history with an average cost of €239/MWh, as reported by lasprovincias.es.

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