By Chris King • 19 September 2022 • 22:00
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 8.17 per cent this Tuesday, September 20, compared to today, Monday, September 19. Specifically, it will stand at €240.58/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 stand at €149.47/MWh tomorrow.
Tuesday’s maximum price will be registered between 9am and 10am, at €191.85/MWh, while the minimum for the day, of €124.50/MWh, will occur between 4pm and 5pm.
To this price of the ‘pool’ must be added the compensation of 91.11 euros/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.
In the absence of the ‘Iberian exception’ mechanism to limit the price of gas for electricity generation, the price of electricity in Spain would be on average around €279/MWh. That would be €38.40/MWh more than with compensation for regulated rate customers, who will pay 13.8 per cent less on average.
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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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