Wednesday, October 5

Electricity demand falls 3.7% in the first week of the Government’s savings plan


The third vice-president and minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, has announced that electricity demand in Spain has fallen by 3.7% in the first week of the Government’s savings plan, compared to data from the last week.

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Ribera has also reported that, thanks to the Iberian exception mechanism -the cap on gas prices to mitigate its impact on the bill of those who have a regulated rate-, Spain has achieved savings of 1,383 million euros in wholesale market prices electricity in the two months of validity of this measure.

“It is an effective mechanism”, stressed the minister, who pointed out that “all of Europe has a price of more than 500 euros per megawatt hour” this Wednesday, while in Spain and Portugal “it has been contained at 139 euros, at what is necessary to add the cost of the adjustment”, with which, with that surcharge, it remains at 236 euros/MWh.

In addition, Ribera assures that this mechanism works in the expectation of the price of the wholesale electricity market – that is, the price at which electricity is negotiated. According to data from the Ministry, the futures price in Spain for the last quarter of 2022 stands at 152 euros per kilowatt hour, while in Germany it amounts to 518 euros.

“It is not enough to set problems, we must think of concrete solutions for each one of those problems that we find along the way. The prices are above what we would like, but they are below what we would have had to face without these measures”, commented the minister, referring to the opposition’s criticism.

energy saving plan

Ribera has been this Wednesday in Maó (Menorca) to take stock of the operation of the Government’s energy saving measures after the first week of their implementation. Last Wednesday, August 10, the measures related to the temperature of the air conditioning and heating came into force, as well as the turning off of lights at night in the windows of shops and public buildings -as long as they are empty- .

Other obligations, such as closing doors to prevent energy from being used inefficiently, will be rolled out in September. The package of initiatives tries to comply with the requirements of the European Commission, which asked Spain to reduce gas consumption by 7% -in other countries of the European Union the figure rises to 15%- as prevention against a possible Russian gas cut .

The minister thanked the “sensitivity of the Spaniards” with Europe in an “enormously complicated context” and stressed that society is complying with these energy saving measures. “We are fulfilling that commitment of solidarity in these first months to confront Putin’s energy blackmail in a united way,” she said.

The energy saving plan generated a new political battle between the Executive and the autonomous communities presided over by the PP, which requested to withdraw it -and even the president of the Community of Madrid, Isabel Díaz Ayuso, announced that she was going to appeal it to the Court Constitutional because it considers that it invades its competences. The belligerent position of the Madrid president has dragged the leadership of Alberto Núñez Feijóo’s PP, which has gone from demanding some of the measures included in the decree a few weeks ago to rejecting them outright.

In relation to this opposition, Ribera has commented that the monitoring of the measures by citizens “shows to what extent the noise and the response to those who do nothing more than find problems to solutions has been interpreted by society Spanish in the right direction”. “We do not contemplate restrictive measures for industry or for households,” he added, as the Government has indicated on previous occasions.

In this sense, the minister has pointed out that progress is being made in the drafting of a contingency plan, which would be ready in September. This plan will contemplate additional saving measures but, as Ribera has indicated, only with those that are under way, half of the 7% cut that Spain promised to Brussels has already been achieved. Percentage of savings that, in other countries, reaches 15%.

Ribera maintains that the central government has tried to “reduce redundant consumption” with its savings plan – “It makes little sense to consume energy when a building is empty”, he explained – and “be respectful of the decisions of households”, which They also “have a significant savings capacity” and have aid to reduce the electricity bill.



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