Average price of electricity in Spain DOUBLES on Monday, January 23

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On Monday, January 23, the average price of electricity in Spain rises by 103.23 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will increase by 103.34 per cent on Monday, January 23, compared to today, Sunday 22. Specifically, it will stand at €71.23/MWh.

According to the operator of the Iberian Energy Market (OMIE), in the action, the cost of energy in the wholesale market – the so-called ‘pool’ -will stand at €71.92/MWh tomorrow.

Monday’s cheapest time will be between the hours of 2am and 3am, €34.44/MWh, while the most expensive will be between 8pm and 9pm, at €157.22/MWh.

Compensation for gas companies of €-0.69/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 €103.17/MWh on average. That would be €31.94/MWh more than with the compensation for regulated rate customers, who will pay 30.96 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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