By Chris King • 28 February 2023 • 23:34
Image of electricity pylons.
The average price of electricity for regulated rate customers linked to the wholesale market in Spain will increase by 1o per cent on Wednesday, March 1, compared to today, Tuesday, February 28. Specifically, it will stand at €145.91/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 €145.91/MWh tomorrow.
Monday’s cheapest time will be between the hours of 3pm and 4pm, at €121.13/MWh, while the most expensive will be between 8pm and 9pm, at €170.41/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.
In February, the average price of electricity for regulated rate customers linked to the wholesale market closed at an average of €132.03/MWh. That is 34 per cent less than the €200.21/MWh of the same month of 2022. Compared to the average in January 2023 of €70.89/Mwh, it rises 86.24 per cent.
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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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