By Chris King •
Updated: 11 Aug 2022 • 21:56
Image of electricity pylons.
The average price of electricity in the wholesale market in Spain and Portugal will rise this Friday, August 12, by 9.04 per cent compared to today Thursday, August 11. Specifically, it will stand at €301.31/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’ – tomorrow stands at €158.25/MWh.
Friday’s maximum price will be registered between 9pm and 10pm, at €182.78/MWh, while the minimum for the day, of €124.69/MWh, will be between 4pm and 5pm.
To this price of the ‘pool’ must be added the compensation of €143.06/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 an average of €338.72/MWh. That would be about €37/MWh more than with the compensation for clients of the regulated rate, who will subsequently pay 11 per cent less on average.
Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our
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@example.com
Download our media pack in either English or Spanish.