By Chris King • 23 April 2022 • 17:28
The average price of electricity in the wholesale market in Spain and Portugal soars this Sunday by 70.38 per cent compared to today, Saturday 23. This is one of the biggest day-to-day increases so far this year.
According to data published by the operator of the Iberian Energy Market (OMIE) and collected by Europa Press, specifically, the average price of the ‘pool’ this Sunday will be €146.95/MWh some €60.70 higher than today’s €86.25/MWh.
Sunday’s maximum price will be between 9pm and 10pm, at €257.04/MWh, while the minimum is €102/MWh, between 4pm and 5pm.
Compared to a year ago, this Sunday will be 156.41 per cent more expensive than the €57.31/MWh of April 24, 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.
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.
Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
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]
Your email address will not be published. Required fields are marked *
Download our media pack in either English or Spanish.