Average price of electricity in Spain on Wednesday, June 7

On Wednesday, June 7, the average price of electricity for regulated rate customers linked to the wholesale market in Spain will fall by 0.11 per cent compared to today, Tuesday 6. Specifically, the price will stand at €87.16/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 €87.16/MWh tomorrow.

The minimum price, of €65.90/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 €107.36/MWh.

In this first week of June, the average price of the ‘pool’ stands at an average of almost €83/MWh, around half of the €169.69/MWh of the same month last year.

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.