Price of electricity in Spain and Portugal rises slightly on Wednesday, May 25

Image of electricity meters. Credit: Creative Commons

The average price of electricity in Spain and Portugal on Wednesday, May 25 will be 140.83 per cent more expensive than last year.

 

The average price of electricity in the wholesale market in Spain and Portugal will rise this Wednesday, May 25, by 2.53 per cent compared to today, Tuesday, May 24. This means that the cost is still under the €200/MWh level for the fifth consecutive day.

According to data published by the Iberian Energy Market Operator (OMIE), and collected by Europa Press, tomorrow’s average price will be €184.57/MWh.

Wednesday’s maximum of €227.98/MWhwill be between 7am and 8am, while the minimum will be recorded between 4pm and 5pm, at €115/MWh.

Compared to a year ago, the average price this Wednesday will be 140.83 per cent more expensive than the €61.09/MWh of May 25, 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.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
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]

Comments


    • June

      24 May 2022 • 22:24

      good

      Reply

    Leave a comment

    Your email address will not be published.