Updated Sunday, 10 October 2021 – 09:30
This Sunday, the price rose by 57.38% compared to a week ago, when electricity in the Spanish wholesale market was at 111.6 euros / MWh
High voltage tower JAVI MARTNEZ
The average daily price of the electricity in the wholesale market today go down to 175.64 euros per megawatt hour (MWh), 22.6% less than this Saturday, although it will be the most expensive Sunday in history.
This Sunday, the price increased by 57.38% compared to a week ago, when electricity in the Spanish wholesale market was at 111.6 euros / MWh. Comparing it to a year ago, the price of electricity increases by 530.89%, that is, six times more than the 27.84 euros that were registered then.
On Sunday, September 26, until now it marked the most expensive price of electricity for that day of the week, with 160.42 euros, but only two weeks have passed until a new record has been recorded with that of this Sunday, October 10.
The highest price of this Sunday will be given between 8:00 p.m. and 9:00 p.m., when it will reach 251.60 euros / MWh, while the lowest will be registered between 11.00 and 12.00, with 135.07 euros / MWh.
This situation 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 in historical highs.
However, the Government has already approved a shock plan that 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, as it is a global problem, the inflationary trend in all types of energy could be transferred to the industry, being able to cause pressure in its activity or the transfer of prices to consumers.
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.
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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