By Chris King • 09 April 2022 • 17:06
The price of electricity in Spain and Portugal on Tuesday, April 26.
The price of electricity in the wholesale market in Spain and Portugal will stand at €159.33/MWh this Sunday, April 10. This marks a fall of 34 per cent compared to the €240/MWh of today, Saturday 9.
Today’s price skyrocketed by 56.1 per cent in comparison to that of Friday 8, but Sunday’s value will be the second-lowest since the start of the conflict in Ukraine.
According to data from the Iberian Electricity Market Operator (OMIE), the maximum price tomorrow will be registered between 00:00 and 1am, when it will be €282.48 /MWh. The minimum will reach €1.03/MWh between 3pm and 6pm.
Despite this decrease, the price this Sunday will be almost triple the €65.01/MWh paid on the same day last year.So far this month, the average price of electricity has reached €222.04/MWh, some €60 below the average of €283.30/MWh registered during March, the most expensive month in history.
Wholesale market prices have a direct impact on the regulated tariff or PVPC, to which almost 11 million consumers in Spain are subscribed, and serve as a reference for the other 17 million who contract their supply on the free market.
As for the rest of the European countries, in the United Kingdom they will pay £203.01/MWh (about €243), while in Germany it will be €74.65; in France, €217.91; in Italy, €195.85, and in Portugal, at the same price as in Spain as they share the market.
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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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