By Chris King •
Updated: 04 May 2022 • 23:50
Image of electricity pylons.
Credit: Creative Commons 2.0
The average price of electricity in the ‘pool’ in Spain and Portugal this Thursday, May 5, will fall 5.63 per cent compared to Wednesday 4. This will bring the price once again below the €200/MWh mark.
Thursday’s minimum price will be between 5pm and 6pm, with €157.24/MWh, while the maximum for the day will be €225.14/MWh, registered between 10pm and 11pm.
According to published data by the Iberian Energy Market Operator (OMIE), and collected by Europa Press, the average price of the ‘pool’ this Thursday will be €190.77/MWh, which is €11.38 less than the €202.15/MWh on average this Wednesday 4.
Compared to a year ago, the average price of electricity for this Thursday will be 152 per cent more expensive than the €75.71/MWh of May 5, 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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