Electricity prices in Spain remain at all-time high

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Spanish government to maintain fiscal measures to cushion electricity prices
Spanish government to maintain fiscal measures to cushion electricity prices. image: Twitter

Electricity prices in Spain remain at an all-time high today, making it the most expensive Tuesday on record.

The price of electricity in the Spanish wholesale market remains today, Tuesday, October 19, above the psychological barrier of 200 euros per megawatt-hour. This is the sixth consecutive day that the price is above the 200 euro mark, a level that was exceeded for the first time on October 5. It was at the end of August when it exceeded 100 euros and, in just a month and a half, it has more than doubled in price.

Compared to a week ago, when the price of electricity in the Spanish wholesale market was 184.29 euros / MWh, the increase is 12.4%. Comparing it with a year ago (35.71 euros / MWh), the price of electricity this Tuesday is multiplied almost by six (480%). The highest price this Tuesday will be between 8:00 p.m. and 9:00 p.m. when it will reach 256.33 euros / MWh, while the lowest will be registered between 3:00 p.m. and 4:00 p.m. when it will trade at 171.60 euros / MWh.

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After the slight decrease that was noticed on the weekend due to lower demand, the price of electricity resumed its upward path on Monday after registering the second-highest record in history on Friday. However, it has been more than a week since there has been a new absolute record capable of surpassing the 288.53 euros that was set on October 7.

Read more:

Electricity prices in Spain expected to reach historical high on Monday


 


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Ron actually started his working career as an Ophthalmic Technician- things changed when, during a band rehearsal, his amplifier blew up and he couldn’t get it fixed so he took a course at Birmingham University and ended up doing a degree course. He built up a chain of electronics stores and sold them as a franchise over 35 years ago. After five years touring the world Ron decided to move to Spain with his wife and son, a place they had visited over the years, and only bought the villa they live in because it has a guitar-shaped swimming pool!. Playing the guitar since the age of 7, he can often be seen, (and heard!) at beach bars and clubs along the length of the coast. He has always been interested in the news and constantly thrives to present his articles in an interesting and engaging way.

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