Average price of electricity in Spain drops slightly on Sunday, September 11

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On Sunday, September 12, the average price of electricity in Spain will fall by 3.3 per cent.

 

On Sunday, September 11, the average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 3.3 per cent compared to today, Saturday, September 10. Specifically, it will stand at €275.40/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’ – will be €161.42/MWh tomorrow.

To this price of the ‘pool’ must be added the compensation of €113.98/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.

Sunday’s maximum price will be registered between 9pm and 10pm, at €252 euros, while the minimum for the day, of €98.50 euros, will be between 4pm and 5pm.

This price of €275.40/MWh 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.

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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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