Average price of electricity increases again in Spain on Saturday, October 1

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Saturday, October 1, the average price of electricity increases in Spain by 12.2 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 12.2 per cent on Saturday, October 1, compared to today, Friday, September 30. Specifically, it will stand at €171.80/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’ – stands at €116.09/MWh tomorrow.

Saturday’s maximum price will be registered between 9pm and 10pm, at €218.65/MWh, while the minimum for the day, of €72.72/MWh, will be between 3pm and 4pm.

To this price of the ‘pool’ must be added the compensation of €55.71/MWh to the gas companies that has to be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated rate (PVPC), or those who, despite being in the free market, have an indexed rate.

___________________________________________________________

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
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]

Comments


    Leave a comment

    Your email address will not be published. Required fields are marked *