Natural gas rates will fall by 4.6% from January 1

Natural gas rates will fall by 4.6% from January 1


MadridUpdated:

The tariffs of last resource (TUR) of natural gas, those that have mainly the domestic consumers, will start the year with a decrease of 4.6% regarding the current rates, which were set last October, for the modification of the calculation formula of the TUR.

According to the new rates, which will be effective from January 1 to March 31, the annual bill for consumers with the tariff TUR 1 (annual consumption less than 5,000 kilowatt-hours -Kwh-) associated with consumers who use natural gas for cooking and sanitary hot water will fall by 3.8% with respect to tariffs set in October.

In the case of TUR 2 (annual consumption of between 5,000 KWh and 50,000 KWh), associated with consumers who, in addition to using gas for cooking and hot water, use it for heating, it will fall by 4.8% compared to the rates set last October.

The drop of 10.8% in the cost of the raw material, which has three components: the base gas, which accounts for 42.1% of the cost, has influenced the decline; the seasonal gas, which represents 57.9%, and the risk premium for quantity (a factor that affects basic gas and seasonal gas).

The new cost of base gas is 21.8 euros per megawatt hour (MWh), which represents a decrease of 9% with respect to the current tariff.

This decline is caused by the fall of the Brent barrel quote at 3.9%, which is mitigated in part by the depreciation of the euro against the dollar (of 1.8%) with respect to the reference periods taken for the previous resolution.

The new cost of the seasonal gas, which only enters into the calculation of the updates that are made in October and January, is 25 euros / MWh and is calculated with the average of natural gas futures in the NBP market of the United Kingdom. , from December 6 to 20, which have fallen by 15.5% compared to the reference period taken for the previous resolution.

The risk premium for quantity takes a value of 3.3%, which increases the cost of the raw material (base gas and seasonal gas) by the same percentage.

This risk premium, which only applies to TUR updates in October and January, is calculated with the price of natural gas options in the NBP market from December 6 to 20.

The updating of regulated natural gas rates for the first quarter of the year has taken into account the Freeze tolls for 2019, as well as the updating of the parameters of the gas system to the latest available values ​​at the date it is made.

The methodology for calculating the cost of the tariff of last resort of natural gas was approved in an order published on December 20 and was the first modification made in the methodological calculation of the cost of raw material in the last ten years .

With it, it was intended to adapt this calculation to the evolution experienced by natural gas markets.

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