Price of electricity in Spain and Portugal rises again this Friday, May 20

Image of electricity meters. Credit: Creative Commons

The price of electricity in Spain and Portugal will be 155 per cent more expensive than on the same date last year

 

The average price of electricity in the wholesale market, or ‘pool’, in Spain and Portugal this Friday, May 20, will increase by 6.6 per cent compared to the €191.08/MWh of today, Thursday, May 19. It will stand at €203.74/MWh.

According to information published by the Iberian Energy Market Operator (OMIE), the cheapest time tomorrow will be between the hours of 4pm and 5pm, at €174/MWh, while the most expensive will be €230.72/MWh, between 9am and 10am.

Compared to a year ago, the average price of electricity for this Friday 20 is 155 per cent more expensive than the €79.79/MWh of May 20, 2021.

These prices of the ‘pool’ have a direct impact on the regulated rate – the so-called PVPC – to which almost 11 million consumers 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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