By Chris King • 25 February 2023 • 21:57
Image of electricity meter.
Credit: Jittawit21 / Shutterstock.com
The average price of electricity for regulated rate customers linked to the wholesale market
in Spain will increase by 45.4 per cent on Sunday, February 26, compared to today, Saturday 25.
Specifically, it will stand at € 76.11/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 €81.05/MWh tomorrow.
Sunday’s cheapest time will be between the hours of 3pm and 5pm, at €4.16/MWh, while the most
expensive will be between 9pm and 10pm, at €137/MWh.
Compensation for gas companies of €-4.94/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 26 stands at €132.55/MWh. That is almost double the average of €68.32/MWh for the same period last month. A year ago, the average price of electricity on this date was €195.05/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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