Price of electricity in Spain and Portugal drops fractionally on Saturday, July 16

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

There is a fractional drop of 0.69 per cent in the price of electricity on Saturday, July 16, in Spain and Portugal.

 

The price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop this Saturday, July 16, by 0.69 per cent compared to today, Friday, July 15. Specifically, it will stand at €298.25 /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 – the so-called ‘pool’ – tomorrow, stands at €136.83/MWh. That is around €14.97/MWh less than today’s €147 .25/MWh)

This new drop for Saturday, coinciding with the arrival of the weekend, and lower demand, together with a slightly higher share of renewables, allows the price of electricity for regulated rate customers linked to the wholesale market to drop below €300/MWh for the first time so far this week.

Saturday’s maximum electricity price will be registered between 9pm and 11pm, at €176.16/MWh, while the minimum for the day, of €120 .69/MWh, will be between 11am and midday.

Compared to a year ago, the price of electricity for customers at the regulated rate this Saturday is 241 per cent more expensive than the €87.32/MWh on July 16, 2021.

___________________________________________________________

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
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]

Comments


    Leave a comment

    Your email address will not be published.