Average price of electricity drops significantly in Spain on Wednesday, December 7

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On Wednesday, December 7, the average price of electricity in Spain drops by 9.28 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 9.28 per cent Wednesday, December 7, compared to this Tuesday 6. Specifically, it will stand at €260.54/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 €142.30/MWh tomorrow.

Wednesday’s maximum price will be registered between 9am and 10am, at €156.85/MWh, while the minimum for the day, of €134.7 euros/MWh, will be in the hour between 4am and 5am.

To this ‘pool’ price is added the compensation of €118.24/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 €326.23/MWh on average. That would be around €59/MWh more than with compensation for customers of the regulated rate, who will pay an average of 18.1 per cent less 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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