The price of electricity in Spain and Portugal on Wednesday, March 30

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

The price of electricity in Spain and Portugal on Wednesday, March 30, will increase by 3.11 per cent

The average price of electricity in the wholesale market in Spain and Portugal this Wednesday, March 30, will rise by 3.11 per cent. Once again exceeding the level of €250/MWh, specifically standing at €255.81/MWh.

Thus, the levels continue to set very high records compared to what was paid last year. Compared to the last year, tomorrow’s price will be 377.88 per cent more expensive than the €53.53 on March 30, 2021.

According to data published by the Iberian Energy Market Operator (OMIE), the maximum electricity price this Wednesday will be €282.69 /MWh, between 9pm and 10pm. The minimum, €228 78/MWh will be recorded between 5pm and 6pm.

On February 24, when the Russian invasion of Ukraine began, the wholesale market price was €205.60/MWh. Since then, there has been an almost daily rise in the price, reaching its peak on March 8, when the price stood at the absolute record of €544.98/MWh.

In this context, the average price of the wholesale market so far in March stands at €294/MWh. That is some €55 more than the average for December 2021, which was the most expensive month in history so far, at €239/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 [email protected]

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