The price of electricity in Spain and Portugal on Wednesday, May 4

Image of electricity meters. Credit: Creative Commons

The price of electricity in Spain and Portugal on Wednesday, May 4, will increase by 5.6 per cent

The average price of electricity in the wholesale market in Spain and Portugal this Wednesday, May 4, will rise by 5.6 per cent compared to today. It will once again be above the €200/MWh mark.

According to published data by the Iberian Energy Market Operator (OMIE), the average price of the ‘pool’ tomorrow will be €202.15/MWh, which is €10.67 more than the €191.47/MWh average this Tuesday 3.

Compared to a year ago, the average price of electricity for this Wednesday will be 148.7% more expensive than the 81.27 euros/MWh of May 4, 2021.

Wednesday’s minimum price will be between 12 midday and 1pm, with €185.25/MWh, while the maximum for the day will be €218/MWh between 10pm and 11pm.

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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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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