By Chris King • Published: 23 Jul 2022 • 22:20
Image of electricity pylons. Credit: Dmitrydesign/Shutterstock.com
The price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal remains above €250/MWh this Sunday, July 24. Specifically, the price stands at €251.19/MWh with a fractional drop of just 0.3 per cent compared to today, Saturday, July 23.
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’ – will stand at €136.99/MWh tomorrow.
Sunday’s maximum price will be registered between 10pm and 11pm, at €192.01/MWh, while the minimum for the day, of €91.47/MWh, will be between 5pm and 6pm.
To this price of the ‘pool’ must be added the compensation of €114.20/MWh, payable to the gas companies by those 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.
In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be on average around €280.43/MWh. That is around €29/MWh more than with the compensation for clients of the regulated rate, who will pay around 10 per cent less on average.
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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. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com
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