By Chris King • 29 November 2022 • 0:13
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 39 per cent on Tuesday, November 29, compared to this Monday 28. Specifically, it will stand at €149.9/MWh.
According to the provisional data of the Iberian Energy Market Operator (OMIE), in the auction, the average price of energy in the wholesale market – the so-called ‘pool’ – will stand at €121.54/MWh tomorrow.
Tuesday’s maximum price will be registered between 8pm and 9pm, at €190.42 euros/MWh, while the minimum for the day, of €92/MWh, will be in the hour between 4am and 5am.
To this ‘pool’ price is added the compensation of €28.43/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.
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 €211.50/MWh on average. That would be around €61.50/MWh more than with the compensation for regulated rate customers, who will pay 29 per cent 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.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you donâ€™t already have one. Review our
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]
Download our media pack in either English or Spanish.