By Chris King • 15 January 2023 • 22:07
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 45.51 per cent on Monday, January 16, compared to today, Sunday 14. Specifically, it will stand at €11.71/MWh.
According to provisional data from the Iberian Energy Market Operator (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €13.22/MWh tomorrow.
Monday’s minimum price of €3/MWh will occur between 1am and 2am, and again between 3am and 5am. The maximum price will be between 8pm and 9pm, when it will be €34.20/MWh.
Compensation for gas companies of €-1.51/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 €42.89/MWh on average. That would be €31.18/MWh more than with the compensation for regulated rate customers, who will pay 72.70 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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