The average daily price of electricity in the wholesale market will rise again this Tuesday to 182.71 euros per megawatt hour (MWh), which represents an increase of 4.6% compared to that registered yesterday Monday (174.68 euros) .
The Government orders the demolition of 12 of the 21 hydroelectric concessions expired since January 2020
It is the second most expensive price in history, behind the one reached 10 days ago, of 188.18 euros, according to data from the designated electricity market operator (OMIE), collected by Europa Press.
Compared to a week ago, when the price of electricity in the wholesale market took a break for the first time in the entire month of September, which has been chaining one record after another, the jump is 21.6%. Comparing it with a year ago (41.43 euros), the increase is 341%.
The highest price this Tuesday will be between 8:00 p.m. and 9:00 p.m., when it will reach 195.33 euros / MWh, while the lowest will be recorded between 3:00 p.m. and 4:00 p.m., when it will trade at 154.58 euros.
September started with a record price of 132.4 euros and after two historical months: July closed with an average of 92.4 euros / MWh and August of 106 euros / MWh. However, the ninth month of the year will exceed these two records, since the average price two days after the end of the month is 153.7 euros.
High gas price
These high values in the price of electricity are due to the international price of gas – used in thermal power plants – which, after registering a strong mismatch between supply and demand in recent months, has skyrocketed in full economic recovery, as well as the impact of the cost of emitting CO2.
In the framework of this crisis, the Government has already approved a shock plan so that this lack of control in the prices of quotation is not transferred to the invoice that consumers disburse, with the aim that this year, at most, the same amount that was paid in 2018.
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.
However, the price of the quotation that is published every day, as the Government has already warned, will continue at high levels and will rise, 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.