Electricity in Spain on Monday 24 will cost 690.11% more than last year

The average price of electricity in Spain in the wholesale market will increase once again this Monday, January 24. It will rise by 12.74% compared to this Sunday 23.
According to provisional data published by the Iberian Energy Market Operator (OMIE), the ‘pool’ will mark an average of €227/MWh tomorrow, compared to 201.34/MWh of today, Sunday 23.
Compared to the corresponding day in 2021, when the price stood at €28.73/MWh, Monday’s electricity will cost a staggering 690.11% more.
By time slots, the maximum price of electricity for this Monday will be between 7pm and 8pm, at €297.33. The minimum, of €177.46, will be registered between 3am and 4am.
The prices of the ‘pool’ have a direct impact on the regulated rate – the so-called PVPC – to which almost 11 million consumers in the country are linked, and serve as a reference for the other 17 million who have contracted their supply in the free market.
These price rises in the electricity market are being blamed on high gas prices, and carbon dioxide (CO2) emission rights, both of which have hit record highs this year.
2021 closed as the most expensive year ever in Spanish history for energy prices, with an average price of €111.93/MWh, due to the upward spiral registered in the pool in the second half of the year.
December registered an average monthly price in the wholesale electricity market of €239.10, the highest monthly price in history, as reported by abc.es.

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