By Chris King • 10 January 2023 • 23:34
Image of electricity pylons.
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.
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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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