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Date Published: 21/10/2021

ARCHIVED - 3 per cent up, 3 per cent down: electricity prices yo-yo in Spain this week

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The price of electricity in Spain fell by almost 3% on Wednesday, only to rise by over 3% on Thursday

<span style='color:#780948'>ARCHIVED</span> - 3 per cent up, 3 per cent down: electricity prices yo-yo in Spain this week

Those hoping that yesterday’s 3% drop in the price of electricity would signal the start of a new chapter for Spain’s out-of-control energy costs are to be disappointed, as an increase of more than 3% is planned for today.

While the price of electricity in the wholesale market dropped on Wednesday October 20 for the second day in a row, to reach 201.40 euros per megawatt hour (MWh), it has shot back up again by 3.2% on Thursday October 21 to an average of 207.92 euros/MWh, according to data from the Iberian Electricity Market Operator (OMIE).

By time slot, electricity will be most expensive today between 9pm and 10pm, when it will cost 250 euros/MWh, and will be cheapest between 4pm and 6pm hours, when it will be 180.59 euros/MWh.

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