Average price of electricity in Spain drops substantially on Saturday, February 4

On Saturday, February 4, the average price of electricity in Spain drops by 11.69 per cent.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will drop by 11.69 per cent this Saturday, February 4, compared to today, Friday 3. Specifically, it will stand at €122.35/MWh).

According to the operator of the Iberian Energy Market (OMIE), in the auction, the cost of energy
in the wholesale market – the so-called ‘pool’ – will stand at €125.60/MWh tomorrow.

Monday’s cheapest time will be between the hours of 3pm and 4pm, €87.6/MWh, while the most
expensive will be between midnight and 1am, at €158.09 /MWh.

Compensation for gas companies of €-3.25/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 €137.85/MWh on average. That would be €15.50/MWh more than with the compensation for regulated rate customers, who will pay 11.25 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.