Price of electricity in Spain and Portugal increases again on Saturday, July 23

The average price of electricity shoots back up by 15.35 per cent on Saturday, July 23, in Spain and Portugal.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will increase again this Saturday, July 23, by 15.35 per cent compared to today, Friday, July 22. Specifically, it will stand at € 252.09/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 €155.99/MWh.

Saturday’s maximum price will be registered in the last hour of the day, between 11pm and midnight, at €221.10/MWh, while the minimum for the day, of €139.87/MWh, will occur between 6pm and 7pm.

To this price of the ‘pool’ must be added the compensation of €96.10/MWh to the gas companies that has to be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC), or those who, despite being in the free market, have an indexed rate.

In the absence of the ‘Iberian exception’ mechanism, the price of electricity in Spain would be on average around €308.93/MWh. That is around €56.8/MWh more than with the compensation for clients of the regulated rate, who will thus pay around 18.9 per cent less on average.

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