By Chris King • 12 June 2022 • 20:45
Image of electricity meters.
Credit: Creative Commons
The average price of electricity in the wholesale market in Spain and Portugal this Monday, June 13, will once again rise above the €200/MWh barrier. There will be a huge jump of 20 per cent compared to today’s price of €167.06/MWh. This is also a five per cent increase from last Monday, June 6.
According to data published by the Iberian Energy Market Operator (OMIE), specifically, the average price tomorrow will be €200.62/MWh. Compared to a year ago, the average price this Monday will be 153.31 per cent more expensive than the €79.20/MWh of June 13, 2021.
Monday’s maximum of €238.40/MWh will be recorded between 9pm and 10pm, while the minimum for the day, of €160.5 euros/MWh, will be between 3am and 4am.
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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