Average price of electricity in Spain rises slightly on Friday, December 2

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On Friday, December 2, the average price of electricity in Spain rises slightly, going up by six per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 6 per cent on Friday, December 2, compared to this Thursday 1. Specifically, it will stand at €218.19/MWh.

According to provisional data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stands this Friday at €127.62/MWh.

Friday’s maximum price will be registered between 8pm and 9pm, at €171.95/MWh, while the minimum for the day, of €91.79/MWh, will be in the hour between 11am and midday.

To this ‘pool’ price is added the compensation of €90.57/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 €281.06/MWh on average. That would be around €62.87/MWh more than with the compensation for regulated rate customers, who will thus pay 22.36 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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