Friday, July 1

The price of light continues its upward spiral and this Wednesday its fourth rise

The average price of electricity on the wholesale market This Wednesday will chain its fourth consecutive day of increases, with a rebound of 18.43% compared to this Tuesday, to again exceed the level of 180 euros per megawatt hour (MWh).

Specifically, the ‘pool’ will register for this Wednesday an average price of 180.2 euros / MWh, with an increase of more than 28 euros compared to 152.15 euros / MWh this Tuesday, according to data published by the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

By time slots, the minimum price of electricity for this January 5 will be between 04.00 and 05.00 hours, with 75.38 euros / MWh, while the maximum, of 250.34 euros / MWh, will be registered between the 8:00 p.m. and 9:00 p.m.

The prices of the ‘pool’ have a direct effect on the regulated tariff -the so-called PVPC-, to which almost 11 million consumers in the country are welcomed, and serves as a reference for the other 17 million that have contracted their supply in the free market .

The increase in price in recent months in the electricity market is mainly explained by the high gas prices in the markets and carbon dioxide emission rights (CO2), at all-time highs this year.

Thus, compared to the same day just a year ago, the increase experienced this Wednesday will be 166.7%, since on January 5, 2021 the price of electricity stood at 67.55 euros / MWh .

239 euros in December

The month of December closed with an average monthly price in the electricity wholesale market of 239.1 euros, the highest in history after exceeding the 200 euros / MWh of last October by more than 39 euros.

Related news

The Government has extended until April 30 the reduction of taxes included in the electricity bill paid by all consumers in order to alleviate the negative effect that the rise in the price of electricity is causing on citizens.

Specifically, the reductions from 21% to 10% of VAT and the special electricity tax from 5.11% to 0.5%, the legal minimum, have been extended until April 30. However, the suspension of the 7% generation tax paid by companies will only be maintained, for now, until March 31.

Reference-www.elperiodico.com

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