Price of electricity in Spain and Portugal finally drops again on Sunday, July 3

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

The price of electricity falls by 9 per cent on Sunday, July 3, for consumers in Spain and Portugal.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop 9 per cent this Sunday, July 3, compared to this Saturday, July 2. Specifically, it will stand at €207.77/MWh.

According to data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – tomorrow will be €133.50/MWh. This is around €9/MWh less than today’s €142.42/MWh.

Sunday’s maximum price will be registered between 10pm and 11pm, with €193.06/MWh, while the minimum for the day, of €91.20, will be between 4pm and 5pm.

Added to this wholesale market price must be the compensation of €74.27/MWh to the gas companies, compared to the €86.01/MWh (still provisional) registered 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.

Compared to a year ago, the average price of electricity for customers of the regulated rate this Sunday, July 3, is 120 per cent more expensive than the same date in 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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