Average price of electricity in Spain drops slightly again on Tuesday, November 22

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Tuesday, November 22, the average price of electricity in Spain drops by six per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 6 per cent on Tuesday, November 22, compared to this Monday 21. Specifically, it will stand at €65.35/MWh. This is the second lowest price so far this year after last Saturday’s €55.98/MWh.

According to provisional data from the market operator Iberico de Energia (OMIE), in the auction, the average price of energy in the wholesale market – the so-called ‘pool – will stand at €73.36/MWh tomorrow.

To this ‘pool’ price is added the compensation of €-8.01/MWh to the gas companies. This must be paid by consumers who are beneficiaries of the measure, consumers of the regulated tariff (PVPC), or those who, despite being in the free market, have an indexed rate.

Tuesday’s maximum price will be registered between 8pm and 9pm, at €108/MWh, while the minimum for the day will be €47.20/MWh between 4am and 6am.

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 around €97.89/MWh on average. That would be around €32.50/MWh more than with the compensation for regulated rate customers, who will thus pay 33.2o/MWh less on average as a result.

___________________________________________________________

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
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]

Comments


    Leave a comment

    Your email address will not be published. Required fields are marked *