The price of electricity in Spain and Portugal on Monday, March 14

The price of electricity in Spain and Portugal on Monday, March 14, will be 1.54 per cent more expensive than today, Sunday 13

The average price of electricity in the wholesale market in Spain and Portugal will remain close to €250/MWh this Monday, March 14.

According to provisional data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, the average price of electricity will be €251.70/MWh, €3.81 euros (1.54 per cent) more expensive than today, Sunday 13.

Thankfully, the price of electricity remains far from the historical maximum registered on March 8, when it reached €544.98/MWh, due to the upward spiral of natural gas caused by the impact of the invasion of Ukraine.

By time slots, the maximum price tomorrow will be €295/MWh, between the hours of 8am and 9am, while the minimum, of €214.80, will be recorded between 11pm and midnight.

Wholesale market prices have a direct impact on the regulated tariff, 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 on the free market.

Until this Sunday, the average price of the wholesale market had accumulated four consecutive days of decreases, and recovered levels similar to those seen before the Russian invasion of Ukraine, as reported by lasprovincias.es.