Price of electricity falls substantially on Sunday, August 14, in Spain and Portugal

The average price of electricity in Spain and Portugal drops by 11.4 per cent on Sunday, August 14.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain and Portugal drops by 11.4 per cent this Sunday, August 14, compared to today, Saturday, August 13. Specifically, it stands at €269/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’ – will be €149.18/MWh tomorrow.

Sunday’s maximum price will be registered between 10pm and 11pm, at €200/MWh, while the minimum for the day, of €90.40/MWh, will be between 5pm and 6pm.

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.

To this price of the ‘pool’ must be added the compensation of €119.83/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.

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