Average price of electricity in Spain finally falls again on Tuesday, November 1

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Tuesday, November 1, the average price of electricity in Spain drops by 16.52 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 16.52 per cent on Tuesday, November 1, compared to this Monday, October 31. Specifically, it will stand at €136.49/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 €110.32/MWh tomorrow.

This Monday ends the month of October, in which the average daily price in the electricity market was €127.21/MWh. That is 36.4 per cent lower than the average price of October last year and 9.8 per cent lower than last September.

The average daily compensation for the adjustment of natural gas in October was €100.81/MWh, according to data from the Association of Companies with Large Energy Consumption (AEGE).

Tuesday’s maximum price will be registered between 9pm and 10pm, at €180/MWh, while the minimum for the day, of € 80.88/MWh, will be between 1pm and 2pm.

Added to this pool price must be the compensation to the gas companies of €26.17/MWh. This has to be paid by the consumers who are beneficiaries of the measure, the consumers of the regulated tariff (PVPC), or those who, despite being on the free market, must renew their contract.

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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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