Average price of electricity in Spain SKYROCKETS on Tuesday, November 29

On Tuesday, November 29, the average price of electricity in Spain rises by an astounding 39 per cent.

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.

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