Average price of electricity in Spain sees MASSIVE increase on Thursday, November 23

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock

On Thursday, November 23, the average price of electricity in Spain soars by an astounding 75 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will soar by an astounding 75 per cent this Thursday, November 24, compared to Wednesday 23. Specifically, it will stand at €152.14/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 €137.74/MWh tomorrow.

Thursday’s maximum price will be registered between 8pm and 9pm, at €195.76 euros/MWh, while the minimum for the day will be €110.97/MWh, between 4am and 6am.

To this ‘pool’ price is added the compensation of €14.40/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.

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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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