Average price of electricity in Spain falls dramatically on Friday, March 24

Image of a lighbulb containing euros.

Image of a lighbulb containing euros. Credit: Bartolomiej Pietrzyk / Shutterstock.com.

On Friday, March 20, the average price of electricity in Spain falls by 29.45 per cent.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 29.45 per cent on Friday, March 24, compared to today, Friday 23. Specifically, it will stand at €59.15/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 € 59.15 /MWh tomorrow.

Monday’s cheapest time will be between the hours of 3pm and 4pm, at €11.22/MWh, while the most expensive will be between 7pm and 8pm, at €116.23/MWh.

Compensation for gas companies of €0/MWh is added to this pool price for the 26th consecutive day. 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 average accumulated monthly price of electricity until March 19 stands at €99.14/MWh. That is about €36 less than the €135.95 /MWh of the same period in February. After this drop, the price of electricity for tomorrow will be almost 73.79 per cent lower than a year ago when it touched €226/MWh.


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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