By Chris King • 29 January 2023 • 21:26
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Credit: Bartolomiej Pietrzyk / Shutterstock.com
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 103.42 per cent on Monday, January 30, compared to today, Sunday 29. Specifically, it will stand at €136.74/MWh. This is the highest level since January 3.
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 €135.37/MWh tomorrow.
Monday’s minimum price of €90/MWh, will occur between 4am and 5am, while the maximum price will be recorded between 7pm and 8pm, when it will be €220/MWh.
Compensation for gas companies of €1.37/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 €149.62/MWh on average. That would be €12.88/MWh more than with the compensation for regulated rate customers, who will pay 8.61 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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