By Chris King • 05 September 2022 • 3:24
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 25.9 per cent this Monday, September 5, compared to Sunday, September 4. Specifically, it will stand at €242.29/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 €188.53/MWh this Monday.
Monday’s maximum price will be registered between 9pm and 10pm, at €277/MWh, while the minimum for the day, of €121.19/MWh, will be between 4pm and 5pm.
To this price of the ‘pool’ must be added the compensation of €53.76/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.
After four consecutive days of falls, the price has finally increased again, although it is still far from the maximum levels of the beginning of last week. On Wednesday, August 31, it reached an average of €476.39/MWh.
That was the highest value recorded since the ‘Iberian exception’ came into force last June, and was the second highest price in history for regulated rate customers linked to the wholesale market.
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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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