By Chris King • 03 March 2023 • 21:54
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 2.8 per cent on Saturday, March 4, compared to today, Friday 3. Specifically, it will stand at €138.57/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 €138.57/MWh tomorrow.
Monday’s cheapest time will be between the hours of 2pm and 3pm, at €111.90/MWh, while the most expensive will be between 8pm and 9pm, at €173.20/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.
As a result, the average price of electricity until March 4 stands at €142.5/MWh. That is almost €10 higher than the average of €132.80/MWh for the same period last month.
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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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