Price of electricity in Spain and Portugal goes back up on Wednesday, July 20

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After four consecutive days of falling, the price of electricity rises by 6.99 per cent on Wednesday, July 20, in Spain and Portugal.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will rise 6.99 per cent this Wednesday, July 20, compared to today, Tuesday, July 19. Specifically, it will stand at €228.78/MWh. This brings to an end a string of four consecutive days in which the price kept falling.

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 €147.54/MWh.

Wednesday’s maximum price will be registered between 9pm and 10pm, at €154.35/MWh, while the minimum for the day, of €137.47/MWh, will be between 6pm and 7pm.

To this price of the ‘pool’ must be added the compensation of €81.24/MWh payable to the gas companies by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC), or those who, despite being in the free market, they have an indexed rate.

Compared to a year ago, the price of electricity for customers at the regulated rate this Wednesday is 124.7 per cent more expensive than the €101.82/MWh on July 20, 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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