The price of electricity in Spain and Portugal on Thursday, April 28

The price of electricity in Spain and Portugal on Thursday, April 28. Image: pixabay

The price of electricity in Spain and Portugal on Thursday, April 28, will be 202 per cent more expensive than last year

The average price of electricity in the wholesale market in Spain and Portugal this Thursday, May 28, will rise again. It will increase by 1.81 per cent compared to this Wednesday 27.

According to provisional data published by the operator of the Iberian Energy Market (OMIE), and collected by Europa Press, the average price of the ‘pool’ for this Thursday will be €224.97/MWh, which is €4 more than Wednesday’s €220.95/MWh.

The minimum price this Thursday will be between 4pm and 5pm, at €196.30/MWh, while the maximum for the day will be €267.85/MWh, between 10pm and 11pm.

Compared to a year ago, the average price of electricity tomorrow will be 202 per cent more expensive than, and tripling the €74.40/MWh of April 28, 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 covered, 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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Written by

Chris King

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]

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