By Chris King •
Published: 23 Oct 2022 • 22:11
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will increase by 50.71 per cent on Monday, October 24, compared to today, Sunday 23. Specifically, it will stand at €109.78/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’ – will stand at €109.78/MWh tomorrow.
This will be the fifth 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.
Monday’s maximum price will be registered between 8pm and 9pm, at €180.01/MWh, while the minimum for the day, of €77.60/MWh, will occur between 4am and 5am.
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. Once again, this figure will be zero.
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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.
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