Average price of electricity rises by a quarter in Spain on Tuesday, January 24

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

On Tuesday, January 24, the average price of electricity in Spain increases by 24.62 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 24.62 per cent, compared to today, Monday 23. Specifically, it will stand at €88.77/MWh.

According to the operator of the Iberian Energy Market (OMIE), in the auction, the average price of energy in the wholesale market – the so-called ‘pool’ – will stand at €87.45/MWh tomorrow.

Tuesday’s minimum price of€47.85/MWh, will occur between 3am and 4am, while the maximum price will be registered between 7pm and 8pm, when it will be €220/MWh.

Compensation for gas companies of €1.32/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.

The average price of electricity for regulated rate customers linked to the wholesale market between January 1 and 24, 2023 stands at €67.19/MWh. In the same period of 2022, without the Iberian mechanism in force, it was €194.21/MWh, almost three times more expensive.

___________________________________________________________

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
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]

Comments