Average price of electricity in Spain drops for a third consecutive day on Thursday, September 29

On Thursday, September 29, the average price of electricity falls by 2.28 per cent in Spain.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 2.28 per cent on Thursday, September 29, compared to today, Wednesday 28. Specifically, it will stand at €132.31/MWh, marking a third consecutive day of lowering prices.

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.

According to the Provisional data collected from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €114.69 tomorrow.

Thursday’s maximum price will be registered between 9pm and 10pm, at €200/MWh, while the minimum for the day, of €86 euros, will be between 3pm and 5pm.

To this price of the ‘pool’ must be added the compensation of €17.62/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.

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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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