The respite in the soaring price of energy in Spain’s wholesale electricity market this Wednesday (8 December), mainly due to the national holiday and the reduced demand, has been brief.
OMIE electricity market operator data shows the wholesale price will double on Thursday to 216.74 euros per megawatt hour (MWh).
Despite this, the electricity price is 1.8 per cent cheaper than a week ago (220.66 euros/MWh), although it is still 21.5 per cent above a month ago, when it was around 178.45 euros/MWh. Meanwhile, the wholesale electricity price this Thursday, 9 December, will be 4.5 times higher than just a year ago, when it cost 47.52 euros/MWh.
The maximum price this Thursday will be between 9pm and 10pm, at 252.59 euros/MWh, while the minimum price will be 175.10 euros, between 4am and 5am.
The electricity bill of an average user with the regulated tariff (PVPC) stood at 115.18 euros in November, some 68.1 per cent above the 68.50 euros for the same month last year, according to data from the Facua consumers association.
Facua considers that the electricity bill for December would have to be negative for the promise of prime minister Pedro Sánchez - that this year consumers will pay the same as in 2018, once the consumer price index has been taken into account - to be fulfilled.