Light Continues To Rise Without Brake In Spain

The average daily price of electricity in the wholesale market will set a new record on Monday, reaching 154.16 euros per megawatt hour (MWh), its highest price in history and 6.9% higher than that registered today Sunday (144 , 18 euros).

In this way, it beats the maximum reached this Friday , when the price of electricity in the wholesale market reached 152.32 euros per megawatt hour (MWh), according to data from the designated electricity market operator (OMIE).

After the slight truce of the weekend, the price of electricity faces another week on the rise. Taking into account the time slots, the cheapest one this Monday will take place between 05:00 and 06:00 , when it will drop to 125 euros . On the contrary, the most expensive will be between 8:00 p.m. and 9:00 p.m., when the price will skyrocket to 170 euros / MWh.

Last Monday, September 6, the average price of electricity in the wholesale market was 132.65 euros / MWh, about 21.5 euros less than the price set for this Monday. Compared to September 13 of last year , when the average daily price was 40.39 euros / MWh, this Monday’s price is almost four times more expensive .

The first two weeks of September already have the record of having the highest prices ever seen in the wholesale market.

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 set another record , with a price of 92.4 euros.

The rise affects all of Europe
The increase in prices in the wholesale energy markets is a phenomenon that affects the whole of Europe , mainly due to the increase in gas prices in the international market and the increase in costs due to CO2 emissions.

Thus in the United Kingdom , the MWh shoots up this Monday to 197.14 pounds (230.65 euros), in Germany it rises to 141.32 euros, in France to 139.41 euros and in Italy , where the Government is preparing to intervene , to 148.18, while in Portugal the price is the same as in Spain, since they share a market, according to data collected between the respective operators.

In Spain, the wholesale price has a weight of around 24% in the electricity bill of the more than 10 million households covered by the regulated rate or Small Consumer Voluntary Price (PVPC).

Measures to cushion the price of light
The Council of Ministers is expected to approve on Tuesday a new package of measures to cushion the rise in the price of electricity in the wholesale market, which could include a new tax cut, the revision of the regulated tariff or PVPC so that it is not so exposed to fluctuations in the wholesale market and force large electricity companies to auction energy between marketers and industrialists.

Meanwhile, the PP has started this weekend in Madrid its campaign to distribute leaflets with the measures it proposes to reduce the electricity bill by 20%: keep VAT at 10%, abolish the tax on the value of the production of the electrical energy, that the more than 2,000 million of the CO2 emission rights are used and that non-energy costs are included in the General State Budgets.

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