Price of electricity in Spain and Portugal keeps rising on Saturday, July 9

The price of electricity keeps rising, going up by 12.25 per cent on Saturday, July 9, in Spain and Portugal.

The price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will rise this Saturday, July 9, by 12.25 per cent compared to today, Friday, July 8. Specifically, it will stand at €259.57/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’ – tomorrow will be €148.6/MWh. That is €1.89/MWh more than today’s €146 .73/MWh.

This price for PVPC customers is the result of adding the average price of the auction in the wholesale market to the compensation payable to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for electricity generation.

Saturday’s maximum price will be recorded between 10pm and 11pm, at €148.62.12/MWh, while the minimum for the day, of €129.50/MWh, will be between 4pm and 6pm.

Compared to a year ago, the price of electricity for customers at the regulated rate this Saturday is 177.61 per cent more expensive than the €93.50/MWh on July 8, 2021.

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