By Chris King • 10 June 2022 • 20:46
Image of electricity meters.
Credit: Creative Commons
The average price of electricity in the wholesale market in Spain and Portugal will drop another 1.98 per cent this Saturday, June 11, compared to today, Friday, June 10. Even with this fall, the price still remains above the €190/MWh mark.
According to data published by the operator of the Iberian Energy Market (OMIE), specifically, the average price tomorrow will be €190.50/MWh. That is €3.85/MWh cheaper than the price today’s price of €194.35.
Saturday’s maximum price will be registered between 9pm and 11pm, at €233.22/MWh, while the minimum for the day, of €159/MWh, will be between the hours of 4pm and 5pm.
Compared to a year ago, the average price of electricity tomorrow will be 130.8 per cent more expensive than the €82.53/MWh of June 11, 2021.
These average prices of electricity 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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