By Chris King • 18 April 2022 • 21:25
Image of a light bulb being plugged in.
Credit: Creative Commons.
The average price of electricity in the wholesale market in Spain and Portugal will increase by 45.4 per cent this Tuesday, April 19, compared to today, Monday 18. This brings an end to five consecutive days where the price had fallen.
According to data published by the Iberian Energy Market Operator (OMIE), collected by Europa Press, the average price of the ‘pool’ for this Tuesday will be €237.30/MWh, some €74 more expensive than today’s €163.13/MWh.
Tuesday’s maximum price will be registered between 10pm and 11pm, at €282.26/MWh, while the minimum, of €183/MWh, will be between 4am and 5am.
Compared to just a year ago, the pool price for this Tuesday will be 276.4 per cent higher than the €63.04/MWh of April 12, 2021.
These prices of the ‘pool’ 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.
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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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