By Chris King •
Published: 24 Jun 2022 • 22:16
Image of electricity meters.
Credit: Creative Commons
The average price of electricity for the regulated rate linked to the wholesale market in Spain and Portugal will drop by 5.4 per cent on Saturday, June 25, compared to this Friday, June 24. Specifically, it stands at €214.66/MWh.
This price for PVPC customers is the result 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 electricity generation.
According to data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity tomorrow in the wholesale market will stand at €128.70/MWh. That is €8.9/MWh less than today’s €137. 59/MWh) and a decrease of 6.4 per cent.
Saturday’s maximum price will be registered between 1am and 2am, at €185/MWh, while the minimum for the day, of €65.71/MWh, will be between 5pm and 6pm.
Added to this pool price is the compensation of €85.96/MWh to the gas companies, compared to the €89.31/MWh 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.
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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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