Home NEWS Electricity Price Rises In Spain by Almost 15%

Electricity Price Rises In Spain by Almost 15%

Electricity prices on the rise again in Spain. Image: Pixabay

The average price of electricity in Spain has risen today, Wednesday, November 9, by 14.43%

The average price of electricity for regulated rate customers linked to the wholesale market rose 14.43%, this Wednesday, November 9, to 138.94 euros per megawatt-hour (MWh). This is according to provisional data from the Market Operator Iberian Energy (OMIE). The electricity rate now stands at an average price of 132.52 euros per megawatt-hour (MWh).

In the auction, the average price of electricity in the wholesale market (pool) stands at 132.52 euros per megawatt hour. To this price, we must add the compensation to gas companies of 6.42 euros/MWh that consumers normally have to pay.

Taking into account the difference in prices according to the time slots, the highest cost will be reached between 7:00 p.m. and 8:00 p.m., reaching 190.00 per megawatt-hour (MWh). The cheapest hour will be recorded between 03:00 and 05:00, with  97.27 euros per megawatt hour.

Spain´s Solar Power sector is booming

As Europe deals with its looming energy crisis, residents in Spain are turning towards the sun to meet their electricity needs and save money.

The boom in solar installations comes four years after the country dropped its so-called “sun tax’” on domestically produced solar energy. New legislation now allows people in Spain to create so-called “energy communities” to generate energy through their collective installations.

Read more: The EU focuses on energy

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