Average price of electricity almost halved in Spain on Saturday, January 14

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

On Saturday, January 14, the average price of electricity in Spain drops by 40.57 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 40.57 per cent on Saturday, January 14, compared to today, January 13. Specifically, it will stand at €53.19/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’ – will stand at €53/MWh tomorrow.

Saturday’s minimum price of €35/MWh, will occur between 3pm and 4pm, while the maximum price will be recorded between midnight and 1am, when it will be €80/MWh.

Compensation for gas companies of €0.19/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 €85.38/MWh on average. That would be €32.19/MWh more than with the compensation for regulated rate customers, who will pay 37.7 per cent less on average as a result.

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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]

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