Average price of electricity falls again in Spain on Friday, October 28

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On Friday, October 28, the average price of electricity in Spain will drop by 1.37 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 1.37 per cent this Friday, October 28, compared to today Thursday 27. Specifically, it will stand at €112.89/MWh.

This price is the result of adding the average of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for the generation of electricity.

After eight days without its application due to the reference price for natural gas falling below the cap of €40/MWh, the ‘Iberian exception’ comes into force, although at a low level.

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 €110.96/MWh tomorrow.

Friday’s maximum price will be registered between 9am and 10am, at €140/MWh, while the minimum for the day, of €88.02/MWh, will occur between 4am and 5am.

To this price of the ‘pool’ must be added the compensation of €1.93/MWh 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.

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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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