Average price of electricity in Spain PLUMMETS on Monday, December 12

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On Monday, December 12, the average price of electricity in Spain drops by a staggering 40.6 per cent.

 

The price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 40.6 per cent on Monday, December 12, compared to Sunday 11. Specifically, it will stand at €130.24/MWh, its lowest level so far this month.

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 €114.51/MWh tomorrow.

Monday’s maximum price will be recorded between 9am and 10am, at €148.92/MWh, while the minimum for the day, of €89.60/MWh, will be between 11pm and midnight.

To this ‘pool’ price is added the compensation of €15.73/MWh to the gas companies. This must be paid by consumers who are beneficiaries of the measure, users of the regulated tariff (PVPC), or those who, despite being on 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 on average around €276.13/MWh. That would be around €145.89/MWh more than with compensation for regulated rate customers, who will pay 52.8 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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