Price of electricity in Spain and Portugal SKYROCKETS on Friday, July 8

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

The price of electricity skyrockets by 24.17 per cent on Friday, July 8, in Spain and Portugal.

The price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will rise by 24.17 per cent this Friday, July 8, compared to today, Thursday, July 7. Specifically, it will stand at €231.25/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 this Friday will be €146.73/MWh. That is €22.50/MWh more than today’s €124.20/MWh.

Friday’s maximum price will be registered between 9pm and 11pm, at €169.12/MWh, while the minimum for the day, of €120.89/MWh, will be between 3am and 4am.

To this price must be added the compensation of €84.52/MWh to the gas companies, compared to the €62.04/MWh registered for this Thursday. 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 Friday is 147.2 per cent more expensive than the €93.67/MWh on July 8, 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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    • david derry

      08 July 2022 • 10:37

      whats happend to Leapy Lee

      Reply

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