By Chris King • 16 December 2022 • 22:28
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 16.85 per cent on Saturday, December 17, compared to this Friday 16. Specifically, it will stand at €186.73 /MWh.
According to provisional data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of light in the wholesale market – the so-called ‘pool’ – stands at €133.82/MWh tomorrow.
Saturday’s maximum price will be registered between 7pm and 8pm, at €150.05/MWh, while the minimum, of €109.99/MWh, will occur between 3pm and 4pm.
To this ‘pool’ price is added the compensation of €52.91/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 €270.37/MWh on average. That would be around €83.64/MWh more than with the compensation for regulated rate customers, who will pay 30.9 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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