Average price of electricity falls again in Spain on Saturday, October 22

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Saturday, October 22, the average price of electricity in Spain will fall by 0.89 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 0.89 per cent on Saturday, October 22, compared to today Friday 21. Specifically, it will stand at €104.90/MWh.

According to provisional data from the Operator of the Iberian Energy Market (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €105.91/MWh tomorrow.

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 three previous days, Saturday’s rate will be negative, standing at -1.01 euros/MWh. This will be the third consecutive day that the so-called Iberian exception, in force since mid-June, remains without application, since the reference price for gas plants stands at €35.89/MWh, below the ceiling of €40/MWh.

Saturday’s maximum price will be registered between midnight and 1am, at €143.43/MWh, while the minimum for the day, of €55.20/MWh, will be between 4pm and 5pm.

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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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