Spain

Average price of electricity in Spain rises slightly again on Tuesday, December 6

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On Tuesday, December 6, the average price of electricity in Spain rises by 7.52 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 7.52 per cent on Tuesday, December 6, compared to Monday 5.

Specifically, it will stand at €287.19/MWh. With this increase, the price rises to its maximum level since last October 4, when it exceeded €288/MWh.

According to provisional data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of energy in the wholesale market – the so-called ‘pool’ stands at €153.44/MWh today.

Tuesday’s maximum price will be registered between 8pm and 9pm, at €194.83/MWh, while the minimum for the day, of €131.30/MWh, will be between 7am and 8am.

To this ‘pool’ price is added the compensation of €133.75/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 €332.75/MWh on average. That would be around €45.56/MWh more than with the compensation for regulated rate customers, who will pay 13.7 per cent less on average as a result.

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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 editorial@euroweeklynews.com



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