Average price of electricity in Spain rises fractionally on Wednesday, October 26

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Wednesday, October 26, the average price of electricity in Spain rises fractionally by 1.83 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 1.83 per cent on Wednesday, October 26, compared to today Tuesday 25. Specifically, it will stand at €108.62/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 €108.62/MWh tomorrow.

This will be the seventh 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 €33.93/MWh, below the cap of €40/MWh.

Wednesday’s maximum price will be recorded between 7pm and 8pm, at €147/MWh, while the minimum for the day, of €85.40/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 with the last days, this rate will be zero 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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