Price of electricity in Spain and Portugal falls again on Sunday, June 5

Image of electricity meters. Credit: Creative Commons

The price of electricity in Spain and Portugal drops by 5.01 per cent on Sunday, June 5.

 

The average price of electricity in the wholesale market in Spain and Portugal will drop this Sunday, June 5, by 5.01 per cent compared to today, Saturday, June 4. This brings the price once again below the €200/MWh mark.

According to data published by the Iberian Market Operator of Energy (OMIE), and collected by Europa Press, specifically, the average price of electricity tomorrow will be €193.65 /MWh. That is about €10 cheaper than today’s €203.86/MWh.

Sunday’s maximum price will be registered between 10pm and 11pm, at €245/MWh, while the minimum for the day, of €153.51 euros/MWh, will take place between 4pm and 5pm. Compared to a year ago, the average price of electricity for this Saturday will be 154.23 per cent more expensive than the €76.17/MWh of June 5, 2021.

These prices of the wholesale market have a direct impact on the regulated tariff – 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 that 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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