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Price of electricity rises slightly in Spain and Portugal on Saturday, July 2

The price of electricity goes up in price slightly on Saturday, July 2, in Spain and Portugal.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will rise this Saturday, July 2, by 2.77 per cent compared to today, Friday, July 1. Specifically, it will stand at €228.43/MWh.

According to data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity in the wholesale market this Saturday will be €142.42./MWh, That is around €3/MWh less than today’s €145.22/MWh, a decrease of 1.93 per cent.

Saturday’s maximum price will be registered between 10pm and 11pm, at €170.34/MWh, while the minimum for the day, of €109.25/MWh, will be between 4pm and 5pm.

Added to this wholesale market price is the compensation of €86.01/MWh to the gas companies, compared to the €77.05/MWh (still provisional) registered for Friday. 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.

Compared to a year ago, the price of electricity for clients of the regulated rate this Saturday is 128.89 per cent more than the €99.80/MWh that the ‘pool’ marked on average on July 2, 2021.

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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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