Home NEWS The price of electricity in Spain rises by over 5%

The price of electricity in Spain rises by over 5%

Electricity price in Spain rises again. Image: Pixabay

The average price of electricity for regulated rate customers linked to the wholesale market rose 5.1%, on Thursday, October 27, to  114.46 euros per megawatt-hour (MWh), according to data published by the Market Operator Iberian Energy (OMIE).

Taking into account the difference in prices according to the time slots, the highest costs were reached between 08:00 and 09:00, reaching 172.32-megawatt hours (MWh). The cheapest hours were between 04:00 and 05:00, with 90.00 euros per megawatt hour.

Spain’s plan to lower high energy prices for the coming winter meets with a chilly response from Brussels.

Although France, Greece, and Hungary responded favourably to the proposal, the EU Commission said it is hesitant at this time to make significant changes to the current system.

Spain had requested the ability to determine power prices independently of the skyrocketing worldwide gas costs. However, that request was rejected on Tuesday, October 25 during an emergency meeting of European Union energy ministers.

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