Electricity prices in Spain will drop slightly on Tuesday, January 25

The average price of electricity in Spain in the wholesale market will decrease this Tuesday, January 25, if only slightly. It will drop by 1.21% compared to this Monday 24.
According to provisional data published by the Iberian Energy Market Operator (OMIE), the ‘pool’ will mark an average of €224.24/MWh on Tuesday 25, compared to €227/MWh on Monday 24.
Compared to the corresponding day in 2021, when the price stood at €59.42/MWh, Tuesday’s electricity will cost 277% more.
By time slots, the maximum price of electricity for this Tuesday will be between 9pm and 10pm, at €256.36. A minimum of €196.24, will be registered between 4am and 5am.
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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