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Average price of electricity in Spain on Sunday, January 8th

Average price of electricity in Spain on Sunday, January 8th

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On Sunday, January 8th, the average price of electricity in Spain fell by an incredible 62.7 percent.

The average price of electricity for customers with regulated tariffs connected to the Spanish wholesale market will fall by 62.07 percent this Sunday, January 8 compared to today, January 7. Specifically, it will be €8.58/MWh.

According to preliminary information from Iberian Energy Market Operator (OMIE)in the auction, the average energy price on the wholesale market – the so-called “pool” – will be €10.28/MWh tomorrow.

The minimum price on Sunday of €4.16/MWh is reached between 4 a.m. and 9 a.m., while the maximum price of €40/MWh is recorded between 8 p.m. and 10 p.m.

A fee for gas companies of -1.70 €/MWh is added to this pool price. 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 tariff.

Without the “Iberian Exception” mechanism to cap the gas price for electricity generation, the average price of electricity in Spain would be around €37.61/MWh. That would be €29.03/MWh more than the remuneration for regulated tariff customers, who pay an average of 77.19 percent less as a result.

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