By Chris King • 06 August 2022 • 22:14
Image of electricity pylons.
This Sunday, August 7, the average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise 2 per cent compared to this Saturday, August 6. Specifically, it will stand at €240.45/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 €123.98/MWh.
Sunday’s maximum price will be registered between 10pm and 11pm, at €175/MWh, while the minimum for the day, of €72.08/MWh, will be between 11am and 12 midday.
To this price of the ‘pool’ must be added the compensation of €116.47/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 €281.91/MWh. That is around €34/MWh more than with the compensation for clients of the regulated rate, who will subsequently pay 12 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.
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