By Chris King • 24 February 2023 • 21:04
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market
in Spain will drop by 5.8 per cent on Saturday, February 25, compared to today, Friday 24.
Specifically, it will stand at €139.49/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 €143.10/MWh tomorrow.
Monday’s cheapest time will be between the hours of 3pm and 4pm, at €117.93/MWh, while the most
expensive will be between 7pm and 8pm, at €163.34 /MWh.
Compensation for gas companies of €-3.61/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.
As a result, the average price of electricity until February 25 stands at €134.80/MWh, that is, almost double the average of €70.95/MWh for the same period last month. A year ago, the average price of electricity was €192.40/MWh.
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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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