By Chris King • 24 May 2022 • 21:58
Image of electricity meters.
Credit: Creative Commons
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.
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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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