By Chris King • 15 April 2022 • 21:37
The price of electricity in Spain and Portugal on Friday, May 6.
The average price of electricity in the wholesale market in Spain and Portugal will fall by 22.48 per cent this Saturday, April 16, compared to this Friday. Specifically, it drops to €153.85/MWh, marking the fourth consecutive day in which the price has decreased.
According to data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, tomorrow’s price will be €44.62 cheaper than today’s €198.47/MWh.
Tomorrow’s maximum price will be between the hours of midnight and 1am, standing at €222.43/MWh, while the minimum, €40.32/MWh, will be recorded between 3pm and 4pm.
Compared to just a year ago, the pool price for this Saturday will be 123.19 per cent higher than the €68.93/MWh of April 16, 2021.
These prices have a direct impact on the regulated rate – the so-called PVPC – to which almost 11 million households 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.
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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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