Average price of electricity in Spain PLUMMETS on Monday, April 10

On Monday, April 10, the average price of electricity in Spain drops by a massive 30.48 per cent.

The average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 30.48 per cent on Monday, April 10, compared to today, Sunday 9. Specifically, it will stand at €52.54/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 €52.54/MWh tomorrow.

Monday’s cheapest time will be between the hours of 3pm and 4pm, at €0.10/MWh, while the most expensive will be between midnight and 1am, at €98.21 /MWh.

Compensation for gas companies of €0/MWh is added to this pool price for the 43rd 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 price of electricity so far in April is around €66/MWh. That is around half the €119/MWh of the same period of March. In addition, electricity will be 67 per cent cheaper this Monday than a year ago, when its price reached €159.33/MWh.

Last Tuesday, March 28, the Council of Ministers approved the extension of the Iberian exception until December 31, after the agreement was reached by Spain and Portugal with the European Commission. It is not excluded that the deal could be extended for a longer time if the said framework is also extended.

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