Spain

Average price of electricity in Spain keeps rising on Sunday, October 2

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On Sunday, October 2, the average price of electricity in Spain increases by 8.2 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 8.2 per cent this Sunday, October 2, compared to today, Saturday 1. Specifically, the price will stand at €185.87/MWh.

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 provisional data 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 €145/MWh tomorrow.

Sunday’s maximum price will be registered between 9pm and 10pm, at €232.99/MWh, while the minimum for the day, of €88/MWh, will be between 2pm and 3pm.

To this price of the ‘pool’ must be added the compensation of €40.87/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.

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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 editorial@euroweeklynews.com



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