The price of electricity in Spain and Portugal on Monday, April 4

The price of electricity in Spain and Portugal on Monday, April 4, will be 807.97 per cent higher than last year

The average price of electricity in the wholesale market in Spain and Portugal will rise by 10.32 per cent this Monday, April 4. This marks the first increase in the last four days.

According to data published by the Iberian Energy Market Operator (OMIE), the average price of the ‘pool’ tomorrow will be €251.87/MWh, some €23 more expensive than today’s price of €228.30/MWh this Sunday.

The maximum price will be €298.06/MWh, between 9pm and 10pm, while the minimum, of 1€72.65/MWh, will be registered between 2am and 3am.

‘Pool’ prices have a direct impact on the regulated rate – the so-called PVPC – 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 in the free market.

In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price. Compared to just a year ago, the pool price this Monday will be 807.97 per cent higher than the €27.74/MWh of April 4, 2021.

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