Average price of electricity drops slightly in Spain on Friday, September 2

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Friday, September 2, the average price of electricity will drop by 4.15 per cent in Spain.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 4.15 per cent on Friday, September 2, compared to today, Thursday, September 1. Specifically, it will stand at €456.59/MWh.

According to provisional data from the Operator of the Iberian Energy Market (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’- stands at €152.14/MWh tomorrow.

Friday’s maximum price will be registered between 9pm and 10pm, at €205.27/MWh, while the minimum for the day, of €119.77, will be between 4pm and 5pm.

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 €223.70/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.

Tomorrow’s price will be the fifth highest price in history for regulated rate customers linked to the wholesale market in Spain, and the third highest since the “Iberian exception” was applied.

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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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