By Chris King • 05 May 2022 • 21:56
The price of electricity in Spain and Portugal on Friday, May 6.
Image: Pixabay/AB Electrical & Communications Ltd
The average price of electricity in the wholesale market in Spain and Portugal will increase by 3.6 per cent compared to today, Thursday, May 5.
According to data published by the Iberian Energy Market Operator (OMIE), and collected by Europa Press, the average price of the ‘pool’ will be €197.63/MWh, a rise of €6.85 compared to today’s €190.77/MWh.
Friday’s minimum price will be between 5pm and 6pm, standing at €150.05 /MWh, while the maximum for the day will be €231.47 /MWh, registered between 9pm and 10pm.
Compared to a year ago, the average price of electricity for this Friday will be 170 per cent more expensive than the €73.11/MWh of May 6, 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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