Home NEWS Average electricity prices in Spain rise sharply

Average electricity prices in Spain rise sharply

pylons provide electricity across Spain
The statistical office of the EU pointed to the Russian invasion of Ukraine as one of the “main causes” of the increase in energy prices. Image: Twitter

The average price of electricity in Spain rises sharply by 16.85 percent today, Saturday, December 17

The average price of electricity for regulated rate customers linked to the wholesale market in Spain rises by 16.85 per cent today, Saturday, December 17. This figure is the rate compared to Friday 16. Specifically, it will stand at €186.73 /MWh today.

The maximum price today will be registered between 7pm and 8pm, at €150.05/MWh, while the minimum, of €109.99/MWh, will occur between 3pm and 4pm.

If the ‘Iberian exception’ mechanism to cap the price of gas for electricity generation was not added to the calculation, the price of electricity in Spain would be considerably higher at around €270.37/MWh.

Electricity prices in Spain rose by 32.2% during the first half of 2022, an increase of more than double the average of other EU countries (13%), compared to the same period the year before, according to a report by Eurostat.

August 2022 was the most expensive month for electricity in Spain since records began, this was despite the so called ‘Iberian exception’ cap designed to keep prices low.

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