Average price of electricity in Spain rises dramatically on Tuesday, September 6

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Tuesday, September 5, the average price of electricity in Spain shoots up by 20.3 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 20.3 per cent this Tuesday, September 6, compared to today Monday, September 5. Specifically, it will stand at €291.57/MWh.

According to data from the Market Operator Iberian Energy (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will be €169.57/MWh tomorrow.

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 €122/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.

Tuesday’s maximum price will be registered between 9pm and 10pm, at €261.67/MWh, while the minimum for the day, of €129.77/MWh, will be between 3pm and 5pm.

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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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