Respite as electricity prices in Spain and Portugal DROP AGAIN on Sunday, June 26

Image of electricity meters. Credit: Creative Commons

The Price of electricity drops by 21.3 per cent on Sunday, June 26, in Spain and Portugal.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop 21.3 per cent on Sunday, June 26, compared to this Saturday, June 25. Specifically, the price will be €168.86/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 in the wholesale market tomorrow will be €117.94/MWh. That is €10.76/MWh less than today’s €128.70/MWh, a drop of 8.3 per cent.

Sunday’s maximum electricity price will be registered between 11pm and midnight, at €153.21/MWh, while the minimum of €74.25/MWh, will be between 6pm and 7pm.

To this price of the ‘pool’ is added the compensation of €50.92/MWh to the gas companies, compared to the €85.96/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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Written by

Chris King

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 [email protected]

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