Average price of electricity in Spain SKYROCKETS on Monday, June 12

Image of electric plug lying on €100 notes.

Image of electric plug lying on €100 notes. Credit: Maryia_K/Shutterstock.com

On Monday, June 12, the average price of electricity for regulated rate customers linked to the wholesale market in Spain will rise by 39.26 per cent compared to this, Sunday 11. Specifically, the price will stand at €93.58/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 €93.58/MWh tomorrow.

The minimum price, of €78.70/MWh, will occur between the hours of 3 pm and 4 pm, while the maximum price will be recorded between 9 pm and 10 pm, at €116.93/MWh.

So far in June, the average price of the ‘pool’ stands at an average of just over €82/MWh, less than half of the €195.45/MWh of the same month last year, according to lainformacion.com.

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.

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

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