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The price of electricity in Spain and Portugal on Tuesday, March 15

By Chris King • Updated: 14 Mar 2022 • 18:11

EU demands details of Spain and Portugal's plan to lower the cost of energy

The price of electricity in Spain and Portugal on Wednesday, March 30. image: Twitter

The price of electricity in Spain and Portugal on Tuesday, March 15, will be 0.8 per cent lower than today, Monday 14

The average price of electricity in the wholesale market in Spain and Portugal this Tuesday, March 15, will be 0.8% lower than today, Monday 14. It will cost an average of €249.66/MWh, half of what was paid a week ago, when it reached its historical record of €544.98/MWh.

Despite the gradual decline in prices over the last few days, electricity will be seven times more expensive tomorrow than one year ago, when it stood at €34.51/MWh.

Compared to before the Russian invasion of Ukraine, the average figure for Tuesday 15 will be 21 per cent higher than that recorded on February 24, when the price of electricity was €205.6/MWh.

In the rest of the main European markets,the average price of electricity will be higher than in Spain: in Italy, €301.15/MWh; Germany, €300.54/MWh; the United Kingdom, €280.88/MWh; France, €295.77/MWh, and Portugal, which is on the same grid as Spain, €249.66/MWh.

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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 editorial@euroweeklynews.com

Comments

    • M

      15 March 2022 • 11:55

      I can see the prices increasing year on year, despite the best efforts of the government to slash IVA, the power hungry devices we all use at home is difficult to move away from so a radical rethink of our personal usage is the only way to help ourselfs in the short term.

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