Price of electricity in Spain and Portugal drops on Friday, August 5

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Friday, August 5, the average price of electricity in Spain and Portugal drops by 7.18 per cent.

This Friday, August 5, the average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal will fall by 7.18 per cent compared to Thursday, August 4. Specifically, it will stand at €235.54/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’ – stands tomorrow at €135.24/MWh.

Friday’s maximum price will be registered between 10pm and midnight, at €164/MWh, while the minimum for the day, of €120.30/MWh, will be between 4am and 6am.

To this price of the ‘pool’ must be added the compensation of €100.30/MWh to the gas companies that has to be paid by the consumers who benefit from 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 to limit the price of gas for the generation of electricity, the price of electricity in Spain would be on average around €308.24/MWh. That would be around €54.47/MWh more than with the compensation for clients of the regulated rate, who will pay around 17.6 per cent less on average.

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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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