Price of electricity falls again in Spain and Portugal on Tuesday, July 26

The price of electricity drops by 6.8 per cent on Tuesday, July 26, in Spain and Portugal.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will drop 6.8 per cent this Tuesday, July 26, compared to today, Monday, July 25. Specifically, it will stand at €238.88/MWh.

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 tomorrow at €145.65/MWh. This signals the first time in four days that the price for PVPC customers has fallen below €250/MWh

Tuesday’s maximum price will be registered between 10pm and 11pm, at €165/MWh, while the minimum for the day, of €125.10/MWh, will be between 3am and 5am.

To this price of the ‘pool’ must be added the compensation of €93.23/MWh to the gas companies that has to be paid by the consumers who benefit from the measure. This includes the consumers of the regulated rate (PVPC), or those who, despite being in the free market, have an indexed rate.

The Iberian mechanism, which entered into force on June 15, limits the price of gas for electricity generation to an average of €48.80/MWh over a period of twelve months, covering the coming winter, a period in which energy prices are more expensive.