Price of electricity DROPS again in Spain and Portugal on Friday, July 22

The average price of electricity falls by 3.39 per cent this Friday, July 21, in Spain and Portugal.

The price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop by 3.39 per cent this Friday, July 22, compared to today, Thursday, July 21. Specifically, it will stand at €218.53/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 €133.45/MWh.

Friday’s maximum price will be registered between 8am and 9am, at €148.18/MWh, while the minimum for the day, of €110.10/MWh, will occur between 7pm and 8pm.

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

To this price of the ‘pool’ is added the compensation of €85.08/MWh to the gas companies that 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. Without the cap, the price would be 18.7 per cent higher.

Compared to a year ago, the price of electricity for customers at the regulated rate this Friday is 115.2 per cent more expensive than the €101.52/MWh on July 22, 2021.

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