By Chris King • 12 July 2022 • 22:08
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will rise by 4.19 per cent this Wednesday, July 13, compared to today, Tuesday, July 12. Specifically, it will stand at €315.76/MWh. This is the third consecutive day with the price in excess of €300/MWh,
According to provisional 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 stands at €159.45/MWh. That is €3.74/MWh more than today’s €155.71/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.
Tomorrow’s maximum price will be registered between 9pm and 10pm, at €186.31/MWh, while the minimum for the day, of €140/MWh, will be between 7pm and 8pm.
To this price of the ‘pool’ is added the compensation of €156.31/MWh to the gas companies that has to 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.
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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.
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