By Chris King • Published: 11 Jun 2022 • 17:44
Image of electricity meters. Credit: Creative Commons
The average price of electricity in the wholesale market in Spain and Portugal will fall even more this Sunday, June 12. Compared to today, Saturday, June 11, it will go down by 12.30 per cent, to stand at €167.06/MWh.
According to data published by the Iberian Energy Market Operator (OMIE), specifically, the average price of electricity tomorrow will be €28.44 cheaper than today’s €190.50, while, compared to Sunday last week, it will drop by 13.73 per cent.
Sunday’s maximum price will be registered between 10pm and 11pm, at €225.88/MWh, while the minimum for the day, of €65.34/MWh, will be between 4pm and 5pm. Compared to a year ago, the average price of electricity this Sunday will be 115.28 per cent more expensive than the €77.60/MWh of June 12, 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. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com
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