The price of electricity continues to skyrocket and marks the most expensive Saturday in history



average daily price of electricity
in the wholesale market this Saturday will fall by 2.1% compared to Friday, to 226.93 euros per megawatt hour (MWh), despite this price being the highest level so far registered for a Saturday.

A week ago, electricity stood at 226.21 euros, so the rise in the last seven days is limited to only 0.3%. Even so, if compared to the same day a year ago, the rise amounts to 424%, that is, more than five times higher.

The electricity price This Friday already marked the second highest record in history, although it has been more than a week that a new absolute record capable of pulverizing the 288.53 euros that was set on October 7 has not been recorded.

The highest price this Saturday will be between 8:00 p.m. and 9:00 p.m., when it will reach 264.54 euros / MWh, while the lowest will be registered between 4:00 p.m. and 5:00 p.m., with 192,07 euros / MWh .

The bill, shot up in October

The electricity bill has already skyrocketed this October and if prices are maintained throughout the month the average user would pay 135.57 euros, 109.8% above the 64.61 euros a year ago, according to the analysis on the evolution of the semi-regulated rate of the Voluntary Price for the Small Consumer (PVPC) carried out by Facua-Consumidores en Acción.

In fact, the Ministry for the Ecological Transition and the Demographic Challenge (Miteco) has launched a prior public consultation regarding the modification of the PVPC, which is fully indexed to the wholesale electricity market and is the contracting modality chosen by 10, 7 million consumers, about 40% of all households.

Facua also warns that the new measures adopted by the Government have shown «absolutely insufficient“And considers that they are only causing” a slight brake on the brutal rate hike. “

The reduction of VAT to 10%, the suspension of the 7% tax 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 by the Spanish Government.

However, the European Comission has parked for a medium-term reflection the measures that Spain has proposed to respond to the rise in the price of electricity, such as the possibility of undertaking
joint gas purchases
to create strategic reserves, while urging capitals to give “priority” to actions already envisaged in current legislation that may have an “immediate” impact.

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