Price of electricity drops slightly in Spain and Portugal on Wednesday, July 6

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The price of electricity in Spain and Portugal on Wednesday, July 6, sees a slight drop of 2.23 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop by 2.23 per cent this Wednesday, July 6, compared to this Tuesday, July 5. Specifically, it will stand at €226.57/MWh.

According to provisional data from the Operator of the Iberian Energy Market (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €145.3/MWh tomorrow. That is €6.14 more than today’s €139.16/MWh.

Wednesday’s maximum price will be registered between 9pm and 10pm, at €174.50/MWh, while the minimum for the day, of €115.55/MWh, will be between 3am and 4am.

To this price of the wholesale market must be added the compensation of €81.27/MWh to the gas companies, compared to the €92.58/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 of the regulated rate this Wednesday is 142.14 per cent more expensive than the €93.57/MWh on July 6, 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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