Average price of electricity in Spain SKYROCKETS on Monday, March 27

Image of a lighbulb containing euros.

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

On Monday, March 27, the average price of electricity in Spain rises by an incredible 260.36 per cent.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will increase by 260.36 per cent on Monday, March 27, compared to today, Sunday 26. Specifically, it will stand at €102.63 /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 €102.63/MWh tomorrow.

Monday’s cheapest time will be between the hours of 3pm and 5pm, at €49.25/MWh, while the most expensive will be between 8pm and 9pm, at €87.60/MWh.

Compensation for gas companies of €0/MWh is added to this pool price for the 29th 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 €94.42/MWh. That is about €37.50 less than the €132.01/MWh of the same period in February.


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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