Electricity prices to jump by more than 50 per cent on Monday

The price of electricity in Spain and Portugal on Tuesday, May 3

Credit: Couleur

The average price of electricity in the wholesale market is to exceed €200/MWh on Monday, April 25. 

The average price of electricity will be €226.57 euros/MWh, compared to €146.95 euros on Sunday and €86.25 on Friday, according to provisional data published by the Iberian Energy Market Operator (OMIE) collected by Europa Press.

The maximum price of electricity for Monday, April 25, will be between 8pm and 9pm, costing €275.71 euros/MWh, while the minimum for the day will be €170/MWh between 3pm and 4pm.

Compared to a year ago, the average price of electricity on Monday will be a staggering 270 per cent more expensive than a year ago on the same day when it cost €61.09/MWh.

Running your washing machine for an hour will cost around 70 cents at peak times on Monday, more than half the cost if you did the wash on Sunday.

The cost of running your washing machine for an hour between 3pm and 4pm on Monday will be around 45 cents.

In other energy news the President of Algeria, Abdelmadjid Tebboune, has announced that Algiers would never renounce its commitments to guarantee gas supplies to Spain, according to Saharawi media quoting an interview published on Saturday in Algerian national media.

Algeria is one of Spain’s main gas suppliers with a gas pipeline, the Medgaz, which goes directly to Almeria, Andalucía, without passing through Moroccan territory. 

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Written by

Fergal MacErlean

Originally from Dublin, Fergal is based on the eastern Costa del Sol and 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 editorial@euroweeklynews.com.