The average daily price of electricity in the wholesale market will fall again this Sunday to 146.57 euros per megawatt hour (MWh), which represents a reduction of 8% compared to this Saturday and 22% compared to the last all-time high that was reached on Thursday. However, the price of electricity this Sunday will be the fifth highest price in the entire historical series, being 1.6% higher than the same day last week and up to 272% more than on the same day of ago one year.
According to data from the designated electricity market operator (OMIE), collected by Europa Press, the highest price this Sunday will be between 9:00 p.m. and 10:00 p.m., when it will reach 187.92 euros / MWh, while the lowest is It will register between 4:00 p.m. and 5:00 p.m., a time period in which it will drop to 137.69 euros.
The reduction in the price of this Sunday is in line with the discounts that usually occur on weekends due to lower demand. The measures approved by the Government do not have an impact on this listing price, but on the invoices that consumers receive.
After breaking historical records in both July and August, September is already on the way to experiencing the same path, beating the highest prices in the entire historical series week after week, although relaxing its price on weekends, when there is less demand. . Specifically, in August, and in the heat of the heat wave, the price was setting a new record after another, causing the average price of the month to reach 106 euros / MWh, the most expensive in history, followed by July, which already it set another record, with a price of 92.4 euros.
This upward rally in the price of electricity is due to the international price of gas – used in thermal power plants – which, after experiencing a strong mismatch between supply and demand in recent months, as well as the impact of The cost of emitting CO2 has skyrocketed in full economic recovery.
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 objective 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 to 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.