Price of electricity in Spain and Portugal DROPS again on Tuesday, July 5

The price of electricity falls by 9.11 per cent in Spain and Portugal on Tuesday, July 5.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop by 9.11 per cent this Tuesday, July 5, compared to today, Monday, July 4. Specifically, it will stand at €231.74/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 stand at €139.16/MWh. That is €20.76/MWh less than today’s €159.92/MWh.

Tuesday’s maximum price will be registered between 9pm and 10pm, at €163.58/MWh, while the minimum for the day, of €114.57/MWh, will be between 4am and 5am.

Added to this wholesale market price is the compensation of €92.58/MWh to the gas companies, compared to the €95.05/MWh registered for 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 price of electricity for customers at the regulated rate for this Tuesday, July 5, is 146.92 per cent more expensive than the €93.85/MWh on July 5, 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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