Monday, August 8

The price of electricity rises again this Monday and sets a new record with 339.84 euros per megawatt hour



The average price of electricity on the wholesale market will rise again this Monday, again setting a historical record by reaching the 339.84 euros per megawatt hour (MWh). With this figure, it is already the fifth time that the threshold of 300 euros has been exceeded.

In this way, the price of electricity will be 6.32% higher than this Sunday, a day in which the Spanish will pay 319.63 euros / MWh, and which was a historical record. Compared to just a year ago, the price will be up to a 682,65% superior, since on December 20, 2020, 43.42 euros / MWh were paid.

The Maximum price of light for this Monday will be given between 8:00 p.m. and 9:00 p.m., with 375 euros / MWh, while the minimum price will be 267.99 euros between 04.00 and 05.00 hours, according to the data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press.

The prices of the wholesale market have a direct impact on the regulated tariff -the so-called PVPC-, to which almost 11 million consumers in the country are welcomed, and serves as a reference for the other 17 million who have contracted their supply in the free market.

The rise in prices in the electricity market in recent months is mainly explained by high gas prices in the markets and carbon dioxide (CO2) emission rights, at record highs this year.

December exceeds 200 euros on average

December began as a month marked by great volatility, with declines in the average of some days to around 100 euros / MWh and with certain rises that far exceeded the level of 200 euros / MWh and now 300 euros / MWh.

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However, since December 9 the price of electricity has not dropped below 200 euros and in the last week it has run amok, placing the average monthly price at 235 euros, that is, 35 euros more than last October, the month with the most expensive average to date.

According to an analysis by Facua-Consumidores en Acción, if the same rates were maintained for the rest of the month, the last invoice of the year would reach 134.45 euros for the average user, 94.1% above the 69.28 euros for December 2020.

The average user’s bill so far this year has increased by 15.1% compared to 2018. Thus, compared to 77.18 euros three years ago, the average monthly bill now reaches 90.87 euros. However, the Government continues to trust that this year households will end up paying the same as in 2018.

«The December electricity bill would have to be negative for President Sánchez and Minister Ribera to fulfill their promise that this year consumers will pay the same as in 2018 after discounting the CPI. Thus, in order for this objective to be achieved, an average user would have to receive an invoice in which his company would return 12 euros at the end of this month “, says the general secretary of Facua, Rubén Sánchez.

So far, the package tax rebates approved by the Government contemplates the reduction of VAT from 21% to 10%, the suspension of the generation tax at 7% paid by companies, and the reduction of the special electricity tax from 5.11% to 0.5%, the legal minimum .

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The association is calling on the Executive to impose for at least six months a minimum discount of 50% on the electricity bill subject to the semi-regulated PVPC tariff of the vast majority of families, excluding only those with higher incomes, run by companies energy companies in proportion to their market shares.

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