Average price of electricity in Spain rises significantly on Tuesday, February 28

Image of electricity meter. Credit: Jittawit21 / Shutterstock.com

On Tuesday, February 28, the average price of electricity in Spain rises by 12.93 per cent.


The average price of electricity for regulated rate customers linked to the wholesale market in Spain will increase by 12.93 per cent on Tuesday, February 28, compared to today, Monday 27. Specifically, it will stand at €132.68/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 €132.68/MWh tomorrow.

Monday’s cheapest time will be between the hours of 2pm and 3pm, at €104.8/MWh, while the most expensive will be between 8pm and 9pm, at € 176.17/MWh.

Compensation for gas companies of €0/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.

The ‘Iberian mechanism’, which came into force on June 15, 2022, limited the price of gas for electricity generation to an average of €48.80/MWh for a period of twelve months. Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation from a price of €40/MWh in the initial six months, and subsequently, a monthly increase of €5/MWh until the end of the measure.


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Written by

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