April 10, 2021

The electricity bill went up in 2018 more than salaries, pensions and the CPI

The electricity bill went up in 2018 more than salaries, pensions and the CPI


MadridUpdated:

The electricity bill for domestic consumers increased 2.5% last year, well above salaries, pensions (1.6%) and inflation (1.2%).

Although the average price of electricity in the wholesale market rose by 9.7% compared to 2017, to 57.28 euros per megawatt hour (MWh), its impact on the energy component of the regulated tariff or pvpc was a 5.5%, as explained by the CEO of operation of REE, Miguel Duvison. In turn, the price of energy accounts for approximately 50% of the total bill (the other 50% are tolls or regulated part and taxes), resulting in an average increase of 2.5%.

Duvison added that "despite the media hype, prices in Spain do not come close to those of other countries in Europe, where they reach 100 and 200 euros per MWh." He also stressed that in the Peninsula average prices are 10.8 euros more expensive than in neighboring countries, mainly because of the few interconnections.

REE has presented today the report of the electrical system of 2018. Its president, the former socialist minister Jordi Sevilla, has said that the sector is, with the energy transition, "with the greatest challenge in a long time and the country in a shock comparable to the of entry into the European Common Market ».

In the same act, the Secretary of State for Energy, José Domínguez, stressed that "Spain was always late to all revolutions, including in the construction of Gothic cathedrals; but now we are the ones who are better prepared ».

Seville has indicated that the role of the company will be key in the energy transition, which will require to adapt to the new generation model more investments not only in kilometers of network, but also in applying artificial intelligence to networks.

On the other hand, has indicated that companies in the sector are aligned with this process of energy transition and does not know anyone who "drag the feet" and not bet on the energy transition, but all their public strategies are aligned to support it.

The president of REE, who recalled that the company plans to invest 7,000 million euros by 2030, has indicated that the commitment to technological investment will be one of the priorities of REE.

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