By Chris King • 16 December 2022 • 1:13
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 5.5 per cent this Friday, December 16, compared to Thursday 15. Specifically, it will stand at €159.79/MWh.
According to provisional data from the Operator of the Iberian Energy Market (OMIE), in the auction, the average price of energy in the wholesale market – the so-called ‘pool’ – stands at €128.62/MWh today.
Friday’s maximum price will be registered between 8pm and 9pm, at €155.01/MWh, while the minimum, of €101/MWh, will be in the hour between 4am and 5am.
To this ‘pool’ price is added the compensation to the gas companies of €31.17/MWh. 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 €266.84/MWh on average. That would be around €107/MWh more than with compensation for regulated rate customers, who will pay 40.1 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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