Electricity price soars again in Spain

Electricity price soars again in Spain. The price of electricity on Thursday is expected to increase by 16 per cent.

Spain is set to be hit by another increase in electricity prices. The average price of electricity on the wholesale market will reportedly rise by over 16 per cent on Thursday, October 14. The average price will hit 215.63 euros per megawatt hour (MWh), according to data provided by the electricity market operator (OMI).

According to data released on Wednesday, electricity will cost most between 9am and 10am. In this timeslot, it will hit 260 euros/MWh. The cheapest price for Thursday will come in at 175.25 euros/MWh. This will be seen between 4pm and 5pm.

Spain saw staggering electricity prices in September. The price of electricity has exceeded 200 euros/MWh multiple times already in October. The expected prices for Thursday will mean that the 200 plus euro mark will be hit for the seventh time in October.

As reported by 20 minutes, the price of electricity “started the month at 216.01 euros/MWh, on the 5th it went to 203.68 euros/MWh, on the 6th to 228.53 euros/MWh, on the 7th it reached the historical record of 288.53 euros/MWh, on the 8th it went down to 229.2 euros/MWh, on the 9th to 226.21 euros/MWh and tomorrow it will be at 215.63 euros/MWh.”

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