Price of electricity in Spain and Portugal on Saturday, August 13, rises by a fraction

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The average price of electricity on Saturday, August 13, rises fractionally in Spain and Portugal.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal on Saturday, August 13, will increase by 0.8 per cent compared to today, Friday, August 12. Specifically, it will stand at €303.73/MWh.

According to provisional data from the Iberian Market Operator of Energy (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand tomorrow at €152.32/MWh.

This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for the generation of electricity.

Saturday’s maximum price will be registered between 10pm and 11pm, at €180.60/MWh, while the minimum for the day, of €118.25/MWh, will occur between 4pm and 5pm.

To this price of the ‘pool’ must be added the compensation of €151.41 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC), or those who, despite being in the free market, have an indexed rate.

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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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