Price of electricity in Spain and Portugal drops fractionally on Tuesday, June 7

Image of electricity meters. Credit: Creative Commons

The price of electricity in Spain and Portugal drops by a small fraction of 0.83 per cent on Tuesday, June 7.

The average price of electricity in the wholesale market in Spain and Portugal will drop 0.83 per cent this Tuesday, June 7, compared to today, Monday, June 6. Once again, the cost remains below the level of €200/MWh.

According to data published by the Market Operator Iberico de Energia (OMIE), and collected by Europa Press, specifically, the average price of electricity this Tuesday will be €193.32/MWh this Tuesday. That makes it €1.62 cheaper than today’s average of €194.94.

Tuesday’s maximum price will be registered between 10pm and 11pm, at €228.81/MWh, while the minimum for the day, of €164.07/MWh, will be between 5pm and 6pm. Compared to a year ago, the average price tomorrow is 183.06 per cent more expensive than the €68.87/MWh of June 6, 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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