Spain

Average price of electricity in Spain soars again on Monday, February 6

Share

On Monday, February 6, the average price of electricity in Spain shoots up by 76.68 per cent.

 

The average price of electricity for regulated rate customers linked to the wholesale market
in Spain will increase by 76.68 per cent on Monday, February 6, compared to today, Sunday 5.
Specifically, it will stand at €132.07/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 €134.98/MWh tomorrow.

Monday’s cheapest time will be between the hours of 3am and 4am, at €87.90/MWh, while the most
expensive will be between 8pm and 9pm, at €186.21/MWh.

Compensation for gas companies of €-2.91/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 €146.62/MWh on average. That would be €14.55/MWh more than with the compensation for regulated rate customers, who will pay 9.92 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.

Chris King

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 editorial@euroweeklynews.com



Show comments

Recent Posts

  • World News

BREAKING: POWERFUL 6.5 magnitude earthquake hits Asian countries of Afgahanistan, Pakistan and India

A powerful earthquake measuring 6.5 magnitude hit a wide region of Asia including Afghanistan, Pakistan,…

2 mins ago
  • World News

Oscar winner Jamie Fox calls police after attempt to con him of £33,000

Cameron Diaz's comeback film has reportedly come to a halt after a plot to steal…

38 mins ago
  • World News

It took hundreds of scientists eight years to compile a report of thousands of pages

Scientists have delivered a “final warning” on the climate crisis, as rising greenhouse gas emissions…

2 hours ago
  • Costa del Sol

Benalmadena’s pays tribute to two of the biggest bands in history, Depeche Mode and U2

Expect two great live bands recalling the classics of these legendary groups, a night where…

2 hours ago
  • Axarquía

Arts Society Nerja to take artistic pilgrimage with Santiago de Compostela talk

THE Arts Society Nerja is continuing on its educational journey with a lecture that is…

2 hours ago
  • News

This is what you (almost) never see: Europol in action

Between 6 and 9 March, Europol, together with the ATLAS network and the European Surveillance…

2 hours ago