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ARCHIVED - Spain and Portugal register highest electricity price in Europe
Electricity in Spain has surpassed 200 euros / MWh for thirteen consecutive days
The average price of electricity in the wholesale market has climbed to 274.56 euros per megawatt hour (MWh) on Tuesday November 30, its second highest figure of all time. This is almost 60 euros more than the day before and represents a 21% increase on the same day the previous week.
According to the latest data from the Operator of the Iberian Electricity Market (OMIE), the cost of electricity has remained above the 200 euros / MWh threshold for the thirteenth consecutive day.
With these rising figures, Spain and Portugal will earn the dubious honour of having the highest price in Europe this Tuesday.
Electricity today is more than four times higher than the same day last year, when it stood at just 52.23 euros / MWh.
For consumers, the cheapest time to use electrical household appliances will be at 4am, while the most expensive will be between 6pm and 7pm, when each megawatt hour will cost a staggering 309.31 euros.
Spain and Portugal aren’t alone, as electricity prices are skyrocketing throughout all of Europe, with France paying 271.99 euros / MWh on Tuesday, followed by Italy at 270.64 euros and the United Kingdom at 242.
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