Average price of electricity in Spain falls to LOWEST level since August 2021 on Sunday, October 23

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Sunday, October 23, the average price of electricity in Spain will fall to its lowest level since August 2021.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 30.56 per cent this Sunday, October 23, compared to today, Saturday 22. Specifically, it will stand at €72.84/MWh.

This is the lowest level since 7 August 2021, when it stood at €65/MWh, and marks the fourth consecutive day that the so-called Iberian exception, in force since mid-June, remains without application. That is because the reference price for gas plants stands at €36.43/MWh, below the ceiling of €40/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 €72.84/MWh for tomorrow.

Sunday’s maximum price will be registered between 9pm and 10pm, at €138.22/MWh, while the minimum for the day, of €4.11/MWh, will be between 3pm and 5pm.

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 four previous days, the rate for this Sunday will be negative once again.

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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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