Average price of electricity in Spain makes a HUGE RISE on Tuesday, August 23

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Tuesday, August 23, the average price of electricity in Spain rises by an incredible 34.77 per cent.

The average price of electricity this Tuesday, August 23, for regulated rate customers linked to the wholesale market in Spain will skyrocket by 34.77 per cent compared to this Monday, August 22. Specifically, it will stand at €365.33/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 stand this Tuesday at €182.93/MWh.

Tuesday’s maximum price will be registered between 10pm and 11pm, at €250/MWh, while the minimum for the day, of €148.60/MWh, will be between 4am and 5m.

To this price of the ‘pool’ must added the compensation of €182.40/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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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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