Thursday, May 19

The Government considers Sánchez’s promise fulfilled that the electricity bill in 2021 would be similar to 2018

The Government considers “fulfilled” the commitment expressed last September by the president, Pedro Sánchez, that the final electricity bill “would be similar in 2021 and in 2018, discounting inflation,” sources from the Ministry stressed on Tuesday for the Ecological Transition and the Demographic Challenge.

Teresa Ribera’s department highlights that the European statistical agency, Eurostat, has published the electricity prices paid by households in the EU during 2021. “Eurostat data for the prices paid by average domestic consumers, with annual consumption between 2,500 kWh and 5,000 kWh, including all taxes, were €0.243/kWh in 2018 and 0.257 kWh in 2021”.

“If we apply the inflation increase between December 2018 and December 2021 (6.8%) to the 2018 price, we have a price for 2018 adjusted for inflation of €0.2595/kWh, higher than the aforementioned 2021 price. , of €0.257/kWh”. This conclusion is in line with an analysis of 2 million invoices domiciled at CaixaBank carried out by the Research department of this entity in January.

Ecological Transition highlights that Eurostat “publishes its data following a homogeneous methodology and approved in a Community Regulation, and uses as a source the information sent by the marketers of the prices actually passed on to their customers”.

The increase in electricity bills according to Eurostat is much lower than that reported by the National Institute of Statistics (INE). The Spanish statistical body only takes into account in its calculations the supplies covered by the voluntary price for small consumers (PVPC), the regulated rate. Around 40% of low-voltage supplies are covered by it and it is directly indexed to the wholesale electricity market, which smashed more than twenty record highs in the second half of 2021 due to the historic rise in natural gas. But the INE photo is partial.

The body is going to change its methodology from January of next year, at the earliest, to include a new one that also includes the free market, which has been in the majority for years and has more stable prices than until this last year were more elevated. That partial picture distorts the official inflation statistics. The INE expects to publish the definitive data of the CPI for March, which according to advances a few days ago stood at 9.8%.