Thu. Mar 21st, 2019

The price of electricity shoots up 35% in mid-January

The price of electricity shoots up 35% in mid-January


The price of electric power has skyrocketed above 35% in the first 14 days of this month as a result of the lower contribution of cheaper energies to the system. Specifically, the price of megawatt / hour (MW / h) is 62.71 euros on average for the 46.42 euros reached in the same period of the previous year. This rise in electricity prices promises an increase in the electric bill on the next bill.

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The situation could worsen in the coming days if the lower contribution of cheaper generation technologies to the energy mix continues, such as wind, and cold waves are repeated. If these levels continue, the price of electricity points to levels only exceeded in one month of January by the fateful of 2017, when it exceeded 71.4 euros per MWh on average and at some points points the level of 100 euros per MWh, and to 2008 (70.22 euros per Mwh).

The wholesale price of electricity has a weight close to 35% on the final receipt, while around 40% corresponds to tolls and about the remaining 25%, VAT and Electricity Tax. With this distribution, the receipt of electricity paid by an average consumer would be higher than 6%.

To counteract this rise in electricity prices, the Government approved last December the suspension for six months of the tax of 7% on electricity generation and an exemption in the Special Tax on Hydrocarbons to deactivate the so-called "green cent" that support the gas generation plants. In addition, the Government has frozen for 2019, for the fifth consecutive year the tolls and electric charges with which consumers pay the regulated costs.

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