Average price of electricity drops slightly in Spain on Saturday, November 26

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On Saturday, November 26, the average price of electricity drops slightly by 5.49 per cent in Spain.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 5.49 per cent on Saturday, November 26, compared to Friday 25. Specifically, it will stand at €153.27/MWh.

According to the data of the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €130.21/MWh tomorrow.

Saturday’s maximum price will be registered between 8pm and 9pm, at €175.01/MWh, while the minimum for the day, of €102.65/MWh, will be between midday and 1pm.

To this ‘pool’ price is added the compensation of €23.06/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 on the free market, have an indexed rate.

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 €210.70/MWh on average. That would be around €57.43/MWh more than with the compensation for regulated rate customers, who will pay 27.26 per cent less on average as a result.

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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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