By Chris King •
Updated: 21 Aug 2022 • 23:55
Image of electricity pylons.
This Monday, August 22, the average price of electricity for regulated rate customers linked to the wholesale market in Spain rises by 3.59 per cent compared to this Sunday, August 21. Specifically, it will stand at €271.06/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 at €176.58/MWh tomorrow.
Monday’s maximum price will be registered between 9pm and 10pm, at €250/MWh, while the minimum for the day, of €125/MWh, will be between 11am and midday.
To this price of the ‘pool’ must be added the compensation of €94.48/MWh to the gas companies that has to be paid by the consumers who are beneficiaries of 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 €414.34/MWh. That would be about €143/MWh more than with the compensation for clients of the regulated rate, who will subsequently pay 34.5 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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