Average price of electricity in Spain rises significantly on Wednesday, January 18

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On Wednesday, January 18, the average price of electricity in Spain rises by 366:07 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 366:07 per cent on Wednesday, January 18, compared to today, Tuesday 18. Specifically, it will stand at €20.88/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 €21.61/MWh tomorrow.

Wednesday’s minimum price of €0.10/MWh will occur between 2am and 4am, while the maximum price will be between 8pm and 9pm, when it will be €122.70/MWh.

Compensation for gas companies of €-0.73/MWh 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 €38.10/MWh on average. That would be €17.22/MWh more than with the compensation for regulated rate customers, who will pay 45.2 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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