By Chris King • 04 November 2022 • 21:59
Image of electricity pylons.
The average price of electricity in the wholesale market in Spain will fall by 9.5 per cent on Saturday, November 5, compared to this Friday 4. Specifically, it will stand at €140.94/ 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 be €124.79/MWh tomorrow.
Saturday’s maximum price will be registered between 7pm and 8pm, at €170/MWh , while the minimum for the day, of €102.58/MWh, will be between midday and 1pm.
Added to this pool price is the compensation to the gas companies of €16.15/MWh that 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 in the free market, have an indexed rate or have to 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 on average around €155.48/MWh. That would be around €14.50/MWh more than with the compensation for customers of the regulated rate, who will pay 9.35 per cent less on average.
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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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