Average price of electricity falls substantially in Spain on Wednesday, January 11

Image of electricity pylons. Credit: Dmitrydesign/Shutterstock.com

On Wednesday, January 11, the average price of electricity falls by 23.82 per cent in Spain.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 23.82 per cent on Wednesday, January 11, compared to today, Tuesday 10. Specifically, it will stand at €85.73/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’ – will stand at €83.84/MWh tomorrow.

Wednesday’s minimum price of €4.16/MWh, will occur between 2am and 5am, while the maximum price will be between 8am and 9am, when it will be €139.02/MWh.

Compensation for gas companies of €1.89/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 would be around €128.22/MWh on average. That would be €42.49/MWh more than with the compensation for regulated rate customers, who will pay 33.14 per cent less on average as a result.

___________________________________________________________

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
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]

Comments