By Chris King • 27 December 2022 • 21:41
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 63.48 per cent on Wednesday, December 28, compared to today, Tuesday, 27. Specifically, it will stand at €41.53/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 €41.41/MWh tomorrow.
Wednesday’s minimum price, of €14.15/MWH, will occur between 4am and 6am, while the maximum price will be registered between 7pm and 8pm, with €79.74/MWh.
Compensation for gas companies of €-0.12/MWh is added to this pool price. It must be paid by consumers who are beneficiaries of the measure, consumers 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 tomorrow would be around €93.70/MWh on average. That would be €52.17/MWh more than with the compensation for customers of the regulated rate, who will pay 55.68 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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