By Chris King • 09 December 2022 • 0:18
Image of electricity pylons.
The price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 19.3 per cent this Friday, December 9, compared to Thursday 8. Specifically, it will stand at €211.69/MWh.
According to 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’ – stands at €144.39/MWh tomorrow.
Friday’s maximum price will be registered between 7pm and 8pm, at €170.42/MWh, while the minimum for the day, of €110/MWh, will occur in the hour between 3am and 4am.
To this ‘pool’ price is added the compensation of €67.30/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 €303.84/MWh on average. That would be €92/MWh more than with compensation for regulated rate customers, who will pay 30.33 per cent less on average as a result.
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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.
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