By Chris King •
Published: 20 Jun 2022 • 21:28
Image of electricity meters.
Credit: Creative Commons
The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will increase by 4.4 per cent this Tuesday, June 21, compared to this Monday, June 20. Specifically, it rises to €270.17/MWh. This is a jump of around €12 on today’s €258.68/MWh.
Tuesday’s maximum price will be registered between 9pm and 10pm, at €180.03MWh, while the minimum for the day, of €126.36/MWh, will be between 4pm and 5pm.
This price for PVPC customers is the product of adding the average price of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for the generation of electricity.
According to data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity tomorrow stands at €148.03/MWh. That is €9.45 less than this Monday’s €157 .48/MWh), a drop of 6 per cent.
To this average price, must be added the compensation of €122.14/MWh to gas companies, compared to the €109.36/MWh they received today. This compensation must be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC), or those who, despite being in the free market, have an indexed rate.
In the absence of the ‘Iberian exception’, the price would have been an average of around €286/MWh. That is around €16/MWh more than with the compensation for clients of the regulated rate, who will thus pay around 5.6 per cent less on average.
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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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