From Tuesday, March 1 – The cost of electricity in Spain 

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ON Tuesday, March 1, there was a drop of 6.88 percent in the average price of electricity on Spain's wholesale market compared to Monday, February 28.

Based on statistics available by the Iberian Energy Market Operator, Tuesday's electricity price should be about 19 cents cheaper than February's price, which stood at €277.78/MWh.

The maximum electricity price will be €315.87/MWh between 8 pm and 9 pm, while the minimum cost of €220.98/MWh will be recorded between 3 pm and 4 pm.

The pool's prices have a direct impact on the country's regulated rate, the PVPC, which affects about 11 million consumers, and they also serve as a reference for the remaining 17 million who have contracted their supply on the open market.

A year ago, the pool price was 42.24/MWh on March 1, 2021, but it will be 512.3 percent higher from March.

Prices have increased by 110.3 percent so far this month, according to data from Facua - Consumers in Action. In February, the average user "will have to deal with the highest increase in their billing history," they wrote.

With prices for the first fourteen days of February, the monthly bill of an average user with the regulated rate - the PVPC - would amount to €130.56, which is nearly 15 percent more than the bill from last February.

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