Average price of electricity in Spain climbs above €100/MWh on Friday, October 21

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Friday, October 21, the average price of electricity in Spain increases by 24 per cent.

The average electricity price for regulated rate customers in the wholesale market in Spain on Friday, October 21, will increase by 24 per cent. Specifically, it will stand at €105.85/MWh.

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 €107.80/MWh tomorrow.

This will be the second consecutive day that the so-called Iberian exception – in force since mid-June – did not apply. That is because the reference price for gas plants stands at €31.81/MWh, which is below the ceiling of €40/MWh, although it will be reactivated when the price of gas exceeds that barrier again.

Friday’s maximum price will be registered between 8pm and 9pm, at €172.76/MWh, while the minimum for the day, of €75/MWh, will be between 3am and 4am.

To this price of the ‘pool’ must be added the compensation 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. As in the two previous days, this figure is negative, with -1.95 euros/MWh.

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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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