Spain

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

Share

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.

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



Recent Posts

  • World News

UPDATE: World Cup fan, 27, ‘assassinated in Iran for honking his car horn after USA win’

A World Cup fan has reportedly been shot and killed in an area of northern…

41 mins ago
  • Ukraine crisis

BREAKING: Poland reportedly wants to hold referendums in Western Ukraine

ACCORDING to reports coming out of Russia on Wednesday, November 30, Poland wants to hold…

54 mins ago
  • Irish News

Northern Irish man dies after falling down Tenerife hotel steps

A Northern Irish man has tragically died after falling down some steps at his hotel…

1 hour ago
  • World News

BREAKING UPDATE: Dozens of children dead after blast at religious school in Samangan, Afghanistan

At least 27 students (aged 9-15 years old) were killed and 30 others wounded in…

1 hour ago
  • Mallorca

Coca-Cola and the Chamber of Commerce in Mallorca join forces to promote female entrepreneurship

The meeting was held at the Chamber of Commerce of Mallorca on Friday, November 25.…

1 hour ago
  • Spain

BREAKING: Firefighters tackling huge blaze in Malaga’s Nerja

FIREFIGHTERS from Andalucia's Plan Infoca are currently tackling a blaze in Malaga's Nerja. (more…)

1 hour ago