By Chris King • 01 June 2023 • 21:42
Image of electric plug lying on €100 notes.
On Friday, June 2, the average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 1.6 per cent compared to today, Thursday 1. Specifically, the price will stand at €86.74/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 €86.74/MWh tomorrow.
The minimum price, of €74.26/MWh, will occur between the hours of 4 am and 5 am, while the maximum price will be recorded between 9 pm and 10 pm, at €103.53/MWh.
May closed with an average electricity price of €74.20/MWh. That is 60.3 per cent lower than the €187.13/MWh registered in the same month last year.
In addition, the average price of electricity in May was in line with that registered last April, when it stood at €73.73/MWh, rising a fraction by 0.6 per cent, according to lasprovincias.es.
On Tuesday, March 28, Spain’s 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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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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