Average price of electricity SKYROCKETS in Spain on Sunday, December 11

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On Sunday, December 11, the average price of electricity in Spain increases by 31.6 per cent.

 

The price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 31.6 per cent on Sunday, December 11, compared to Saturday 10. Specifically, it will stand at €219.48/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 €146.45/MWh tomorrow.

Sunday’s maximum price will be registered between 8pm and 9pm, at €181.07/MWh, while the minimum for the day, of €114.60/MWh, will be in the hour between 3am and 4am.

To this ‘pool’ price is added the compensation of €73.03/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 €300.10/MWh on average. That would be €80.62/MWh more than with compensation for regulated rate customers, who will pay 26.8 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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