By Chris King • 30 April 2022 • 20:24
The average price of electricity in Spain and Portugal in the ‘pool’ this Sunday, May 1, will drop by 4.61 per cent compared to today, Saturday, April 30. This marks a third consecutive day in which the price has fallen.
According to data published by the Iberian Energy Market Operator (OMIE), it will stand at €177.86/MWh, about nine euros less than today’s average of €186.45/MWh.
Sunday’s minimum will be between 5pm and 6pm, at €95.05/MWh, while the maximum for the day will be €227/MWh, recorded between 9pm and 10pm.
Compared to a year ago, the average price tomorrow will be 199.63 per cent more expensive than the €59.36 of May 1, 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.
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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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