By Chris King •
Updated: 26 Jan 2023 • 23:23
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.
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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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