By Chris King •
Updated: 25 Mar 2022 • 21:45
The price of electricity in Spain and Portugal on Tuesday, March 29.
The average price of electricity in the wholesale market in Spain and Portugal this Saturday, March 26 will drop 10 per cent in relation to today, Friday 25. This means that once again the level falls below €250/MWh, specifically, to €237.45/MWh.
It should be noted of course that energy costs always drop on the weekend, due to lower demands in the market. Compared to the same date last year, when electricity stood at €60.31/MWH, it means that tomorrow will cost 293.71 per cent more.
According to data published by the Iberian Energy Market Operator (OMIE), the maximum electricity price for this Saturday will be between 7pm and 8pm, at €292.24 euros/MWh. The minimum, €199 .69/MWh will be recorded between the hours of 3pm and 4pm.
On February 24, when the Russian invasion of Ukraine began, the wholesale market price was €205.60/MWh. Since then, there has been a regular rise in the price that reached its peak on March 8, when the price stood at the absolute record of €544.98/MWh.
The average price of the wholesale market so far in March stands at €294/MWh, some €55 euros than the average for December 2021, which was the most expensive month in history, with €239/MWh, 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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