Average price of electricity rises slightly in Spain on Wednesday, November 2

On Wednesday, November 2, the average price of electricity will rise by three per cent in Spain.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by three per cent this Wednesday, November 2, compared to today, Tuesday 1. Specifically, it will stand at €140.63/MWh.

According to provisional data from the Market Operator Iberian Energy (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €125.98/ MWh tomorrow.

Wednesday’s maximum price will be registered between 8pm and 10pm, at €189/MWh, while the minimum for the day, of €101.01 euros/MWh, will occur between 3am and 4am.

To this price of the ‘pool’ must be added the compensation to the gas companies of €14.65/MWh that has to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC), or those who, despite being on the free market, must renew their contract.

In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation, the price of electricity in Spain would be an average of €152.71/MWh. That would be €12/MWh more than with compensation for regulated rate customers, who will pay 7.9 per cent less on average as a result.

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