By Chris King •
Published: 13 Nov 2022 • 21:53
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 8.73 per cent on Monday, November 14, compared to this Sunday 13. Specifically, it will stand at €146.43/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 be €139.80/MWh tomorrow.
Monday’s maximum price will be registered between 9am and 10am, at €172.77/MWh, while the minimum for the day, of €107.57/MWh, will occur between 11pm and midnight.
Added to this pool price is the compensation to gas companies of€6.63/MWh. This 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 or have to renew their contract.
In the absence of the ‘Iberian exception’ mechanism to cap the price of gas for the generation of electricity, the price of electricity in Spain would be on average around €158.22/MWh. That would be around €11.79/MWh more than with the compensation for clients of the regulated rate, who will pay 7.45 per cent less on average as a result.
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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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