Updated on Saturday, October 16, 2021 – 10:54
The highest price of electricity this Saturday will be between 8:00 p.m. and 9:00 p.m., when it will reach 264.54 euros / MWh
Light marks the most expensive Saturday in history JAVIER LIZNEFE
The average daily price of electricity in the wholesale market will fall 2.1% this Saturday compared to Friday, to 226.93 euros per megawatt hour (MWh), being nevertheless this price the highest level recorded so far for a Saturday.
A week ago, the light was on 226.21 euros, so the rise in the last seven days is limited to only 0.3%. Even so, if compared with the same day a year ago, the increase amounts to 424%, that is, more than five times higher.
The price of electricity I already set this Friday the second highest record in history, although it has been more than a week since there has been a new absolute record capable of pulverizing the 288.53 euros that were set on October 7.
The Highest price for this Saturday will be between 8:00 p.m. and 9:00 p.m., when it will reach 264.54 euros / MWh, while the lowest will be recorded between 4:00 p.m. and 5:00 p.m., with 192.07 euros / MWh.
The electricity bill, shot up in October
The electric bill already has skyrocketed this October and if prices are maintained throughout the month, the average user will pay 135.57 euros, 109.8% above the 64.61 euros a year ago, according to the analysis of the evolution of the semi-regulated rate of the Voluntary Price for the Small Consumer (PVPC) carried out by Facua-Consumidores en Accin.
In fact, the Ministry for the Ecological Transition and the Demographic Challenge (Miteco) has launched a prior public consultation regarding the modification of the PVPC, which is fully indexed to the wholesale electricity market and is the contracting method chosen by 10.7 million consumers, around 40% of all domestic consumers.
Facua also warns that the new measures adopted by the Government have proved “absolutely insufficient” and considers that they are only causing “a slight brake on the brutal rate hike.”
The reduction of VAT to 10%, the suspension of the tax of 7% on electricity generation, the discount of the electricity tax at 0.5% or the expected contribution of 2,600 million euros by the electricity companies from the so-called ‘benefits fallen from the sky’ are some of the measures undertaken by the Spanish Government.
Nevertheless, The European Commission has parked the measures proposed by Spain for a mid-term reflection to respond to the rise in the price of electricity, such as the possibility of undertaking joint gas purchases to create strategic reserves, while urging the capitals to give “priority” to actions already provided for in current legislation that may have a “immediate” impact.
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