By Chris King • Updated: 27 Dec 2022 • 0:57
Image of electricity pylons. Credit: Dmitrydesign/Shutterstock.com
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 41.6 per cent on Tuesday, December 27, compared to today, Monday 26. Specifically, it will stand at €113.72/MWh, ending a period where the level was below €100/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 €109.49/MWh tomorrow.
Tuesday’s minimum price, of €62.09/MWh, will be in the hour between 3am and 4am, while the maximum price will be registered between 6pm and 7pm, with 164.69/MWh.
Compensation of €4.23/MWh for gas companies is added to this pool price. This 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 would be around€162.20/MWh on average. That would be around €48.48/MWh more than with the compensation for regulated rate customers, who will pay 29.9 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. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com
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