Average price of electricity in Spain falls marginally on Wednesday, February 1

On Wednesday, February 1, the average price of electricity in Spain falls by 2.29 per cent.

The average price of electricity for regulated rate customers linked to the wholesale market will drop by 2.29 per cent on Wednesday, February 1, compared to today January 31. Specifically, it will stand at €126.81/MWh).

According to the operator of the Iberian Energy Market (OMIE), in the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – will stand at €128.55/MWh tomorrow.

Wednesday’s minimum price, of €98.15/MWh, will occur between 3pm and 4pm, while the maximum price will be registered between 7pm and 8pm, when it will be €189.74/MWh.

Compensation for gas companies of €-1.74/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 €151.86/MWh on average. That would be €25/MWh more than with compensation for regulated rate customers, who will pay 16.5 per cent less on average as a result.

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