Updated on Saturday, 9 October 2021 – 08:44
After concluding September with a record average price, October already registers the six highest values seen so far in just nine days
High voltage electricity tower JAVI MARTNEZ
The average daily price of electricity in the wholesale market go down tomorrow until 226.21 euros per megawatt hour (MWh), 1.3% less than this Friday, although it will be the most expensive saturday in history and the fourth highest record.
After concluding September with a record average price, October already registers the six highest values seen so far in just nine days, according to data from the designated electricity market operator (OMIE).
This saturday the price increased 30.26% compared to a week ago, when electricity in the Spanish wholesale market was at 173.65 euros / MWh. Comparing it with a year ago, the price of electricity increased by 409.6%, that is, five times more than the 44.39 euros that were registered then.
The highest price this Saturday It will be given between 9:00 p.m. and 10:00 p.m., when it will reach 254.45 euros / MWh, while the lowest will be recorded between 5:00 p.m. and 6:00 p.m., with 176.92 euros / MWh.
This situation It occurs in full escalation of the price of all raw materials linked to energy around the world, such as gas, oil and coal, which at the same time shoot up CO2 rights, also at historic highs.
However, the Government has already approved a crash plan which will temporarily contain these increases, by lowering taxes and reducing some extraordinary income from electricity companies, so it will not be reflected in consumer bills.
Even so, being a global problem, the inflationary trend In all types of energy, it could be transferred to the industry, causing pressures in its activity or the transfer of prices to consumers.
The VAT reduction to 10%, the suspension of the 7% tax on electricity generation, the electricity tax discount at 0.5% wave expected contribution of 2.6 billion euros on the part of the electricity companies from the so-called ‘benefits fallen from the sky’, are some of the measures undertaken by the Spanish Government.
In any case, the price of the quotation that is published every day, as the Executive has already warned, will continue at high levels and rising, at least until March of next year, at which time these measures are expected to decline. Meanwhile, the bill should continue to fall in price despite the rise in the wholesale market.
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