The price of electricity rises 20% this Monday, to 163.51 euros/MWh, the highest in Europe

Oct. 30 () –

The average price of electricity for regulated rate customers linked to the wholesale market rose 20.56% this Monday compared to this Sunday, to 163.51 euros per megawatt hour (MWh), according to provisional data from the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

With this increase, the price of electricity in Spain will be the highest in Europe for the second consecutive day.

This Monday the reference price for gas plants is once again above the cap of 40 euros/MWh, specifically at 40.49 euros/MWh, with which the so-called Iberian exception comes into effect.

In the auction, the average price of electricity in the wholesale market – the so-called ‘pool’ – stands for this Monday at 164.07 euros/MWh.
The cheapest hour of electricity will be at dawn, from 03:00 to 04:00, with a price of 114.60 euros per megawatt hour (MWh) and the maximum price will be registered between 21:00 and 22:00 hours, with 250 euros/MWh.

To this price of the ‘pool’ is added the compensation to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated rate (PVPC) or those who, despite being in the free market, have an indexed rate, which on this occasion is slightly negative, -0.56 euros/MWH.

THE HIGHEST PRICE IN EUROPE

This Monday the price of electricity in Spain will be the highest in all of Europe for the second consecutive day, above countries such as France and Italy (144 euros) or Germany (145.2 euros).

However, the average price since June 15, when the Iberian exception came into force, is notably lower in Spain (141.93 euros) than in France (359.22 euros), Italy (396.54 euros) or Germany (312.76).