Electricity Price Pulverizes All Records And Will Reach 172 Euros / MWh

The average price of electricity in the wholesale market or “pool” has once again pulverized its historical maximum, reaching 172.78 euros / MWh this Wednesday, waiting for the Government to specify the measures that are going after the Council of Ministers. to be carried out to alleviate the current price escalation .

Sánchez will lower taxes and limit the price of gas to stop the rise in electricity
For this Wednesday the price will be 12.6% higher than the 153.43 that marked for this Tuesday (which is equivalent to 19.35 euros more) and also 12% higher (18.6 euros more) than the previous one. historical maximum that reached last Sunday in the wholesale market with 154.16 euros / MWh.

The price of electricity for this Wednesday will range between 180.3 euros / MWh that will be reached as a maximum ( from 9 a.m. to 11 a.m. it will reach 180 euros ) and 159.42 euros / MWh as a minimum which will be registered at midnight, according to data from the market operator OMIE.

The price of the megawatt hour of this Wednesday will be 253.3% higher than that of the same day last year , when it registered a price of 48.9 euros / MWh, and 27.4% more expensive than that of Wednesday of last week, September 8, when it reached 135.65 euros / MWh.

After breaking historical records in both July and August, September is already on the way to experiencing the same path, beating the highest prices in the entire historical series week after week .

Specifically, in August, and in the heat of the heat wave , the price was setting a new record after another, causing the average price of the month to reach 106 euros / MWh, the most expensive in history , followed by July, which already it set another record, with a price of 92.4 euros.

CPI rise
The rise in electricity prices brought the consumer price index (CPI) to 3.3% year-on-year in August , four tenths more than in July and the highest rate since autumn 2012, according to data confirmed this Tuesday by the National Institute of Statistics (INE) .

The INE details that behind this price increase was the 34.9% rise in electricity in annual rate in a month in which the wholesale price of electricity broke a record.

To mitigate the impact of these increases on the bill, the Government lowered the VAT on electricity from 21% to 10% and the generation tax was suspended (7%) .

Without taking into account these decreases, they point out from the INE, the interannual CPI would have been 3.6%, as reflected in the constant tax index. With this August rate, inflation has risen for the sixth consecutive month, surpassing rates of 3% that it had not reached since the autumn of 2012, when it was 3.5% in October and 3.4% in September.

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