The electricity wholesale market marks this Saturday the second highest price in history: 306.33 euros / MWh



The average price of electricity in the wholesale market will reach 306.33 euros per megawatt hour (MWh) tomorrow, which means that it will be the most expensive Saturday in history and the second highest record to date, only exceeded by 309 , 2 euros / MWh this Friday.

The price of electricity will remain above the level of 300 euros for the third consecutive day, despite the slight decrease in its price (-0.92%) this Saturday, as it usually happens on weekends due to the lower demand.

The increase in the wholesale market is 27.88% if compared to the same day a week ago, while it is multiplied by six compared to December 18, 2020. The maximum price of electricity for this Saturday will be between the 9:00 p.m. and 10:00 p.m., with 342.03 euros / MWh, while the minimum price will be 265.77 euros between 05:00 and 06:00, according to the data published by the Iberian Energy Market Operator (OMIE) and collected by Europa Press.

The wholesale market has once again registered new highs this week in a dynamic common to the rest of Europe, due to the exponential rise in gas due to tensions with Russia, to which are added the problems of several nuclear reactors in France and the rising cost of the CO2 emission rights.

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, which until now has always been the most competitive, and serves as a reference for the another 17 million that have their supply contracted in the free market.

December began with great volatility, with falls in the average of some days to around 100 euros / MWh during the December bridge, but since December 9 the price of electricity has not dropped below 200 euros and in The last week has run wild, placing the average monthly price at 235 euros, that is, 35 euros more than last October, the month with the most expensive average to date.

According to an analysis by Facua-Consumidores en Acción, if the same rates were maintained for the rest of the month, the last invoice of the year would reach 134.45 euros for the average user, 94.1% above the 69.28 euros for December 2020.

The average user's bill so far this year has increased by 15.1% compared to 2018. Thus, compared to 77.18 euros three years ago, the average monthly bill now reaches 90.87 euros. However, the Government continues to trust that this year households will end up paying the same as in 2018, if the group of domestic consumers is taken into account.

"The electricity bill for December would have to be negative for President Sánchez and Minister Ribera to fulfill their promise that this year consumers will pay the same as in 2018 once the CPI is discounted. Thus, in order for that objective to be reached, a The average user would have to receive an invoice in which his company would return 12 euros at the end of this month, "according to the general secretary of Facua, Rubén Sánchez.

Until now, the tax reduction package approved by the Government contemplates the reduction of VAT from 21% to 10%, the suspension of the 7% generation tax paid by companies, and the reduction of the special electricity tax of 5.11% at 0.5%, legal minimum.

The association is calling on the Executive to impose for at least six months a minimum discount of 50% on the electricity bill subject to the semi-regulated PVPC tariff of the vast majority of families, excluding only those with higher incomes, run by companies energy companies in proportion to their market shares.

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