The price of electricity falls 7% this Tuesday, to 206.54 euros per megawatt




The average price of electricity in the wholesale market will drop again this Tuesday, falling 6.9% compared to yesterday, although it will remain above the level of 200 euros per megawatt hour (MWh).

Specifically, the average price of the 'pool' will be 206.54 euros/MWh on the first day of February, some 15 euros below the 221.82 euros/MWh of this Monday, according to data published by the Operator of the Iberian Energy Market (OMIE) collected by Europa Press.

By time slots, the maximum price of electricity for this Tuesday will be between 8:00 p.m. and 9:00 p.m., with 253 euros/MWh, while the minimum, of 169.97 euros/MWh, has been registered between 05:00 a.m. and 06.00 hours.

The prices of the 'pool' have a direct impact on the regulated rate --the so-called PVPC--, to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market.

The rise in prices in recent months in the
electrical market
It is explained, mainly, by the high prices of gas in the markets and of carbon dioxide (CO2) emission rights, at all-time highs this year.

Compared to a year ago, the price in the 'pool' for this Tuesday will be 1,635% higher than the 11.9 euros/MWh that it registered on February 1, 2021, a day that yes in which a price was marked especially low due to the high presence of renewables in generation.

The most expensive year in history

Electricity closed 2021 as the most expensive year in the historical series, with an average price of 111.93 euros/MWh due to the upward spiral registered in the pool in the second half.

The month of December registered an average monthly price in the market
electrical wholesaler
of 239.1 euros, the highest monthly in history after exceeding the 200 euros/MWh of last October by more than 39 euros.

The Government has extended until April 30 the reduction of taxes iIncluded in the electricity bill paid by all consumers in order to alleviate the negative effect that the rise in the price of electricity is having on citizens.

Specifically, the reductions from 21% to 10% of VAT and the special electricity tax from 5.11% to 0.5%, the legal minimum, have been extended until April 30. However, the suspension of the 7% generation tax paid by companies will only be maintained, for now, until March 31.

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