By Chris King • 26 January 2023 • 23:21
Image of a lighbulb containing banknotes.
Credit: Bartolomiej Pietrzyk / Shutterstock.com
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 32.93 per cent on Friday, January 27, compared to today, Thursday 26. Specifically, it will stand at €44.86/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 €45.67/MWh tomorrow.
Friday’s minimum price, of €15/MWh, will occur between 2pm and 3pm, while the maximum price will be registered between 8pm and 9pm, when it will be €82.01/MWh.
Compensation for gas companies of €-0.81/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 €63.34/MWh on average. That would be €18.48/MWh more than with the compensation for regulated rate customers, who will pay 29.18 per cent less on average as a result.
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.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you donâ€™t already have one. Review our
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 firstname.lastname@example.org
Download our media pack in either English or Spanish.