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Price of electricity in Spain and Portugal remains the same on Saturday, August 6

On Saturday, August 6, the average price of electricity in Spain and Portugal will drop by just 0.016 per cent.

 

The average price of electricity in the regulated market will remain stable this Saturday, August 6. It will make a small drop of 0.016 per cent compared to today Friday, August 5. Specifically, it will stand at €235.50/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 €135.53/MWh.

Saturday’s maximum price will be registered between 10pm and midnight, at €180/MWh, while the minimum for the day, of €112.30/MWh, will be between 12 midday and 1pm.

To this price of the ‘pool’ must be added the compensation of €99.97/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 cap the price of gas for electricity generation, the price of electricity in Spain would be on average around €301.83/MWh. That is around €66.30/MWh more than with the compensation for clients of the regulated rate, who will subsequently pay almost 22 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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