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

The price of electricity in Spain and Portugal on Tuesday, May 3, will be 180.2 per cent more expensive than last year

The average price of electricity in the wholesale market in Spain and Portugal remains stable this Tuesday, May 3. It continues to remain below the threshold of €200/MWh.

According to data published by the Iberian Energy Market Operator (OMIE), and collected by Europa Press, the average price of the ‘pool’ will be €191.47/MWh, a slight decrease compared to today’s €191.8/MWh.

Tuesday’s minimum price will be between midnight and 1am, standing at €152.89/MWh, while the maximum for the day will be €223.50/MWh, registered between 9pm and 10pm.

Compared to a year ago, the average price of electricity tomorrow will be 180.2 per cent more expensive than the €68.32/MWh of May 3, 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.