Friday, September 24

The price of electricity beats another historical record this Thursday and already exceeds 141 euros / MWh

The average price of the wholesale electricity market is going to beat another historical maximum this Thursday, standing at 141.71 euros per megawatt hour (MWh), 4.47% above Wednesday and higher than the previous record of 140.23 euros / MWh registered last Thursday.

This is how the streak of record highs of the so-called pool continues, driven by record gas prices in Europe and record highs of CO2, which have led the Government to prepare a package of measures that the third vice president and minister for the Ecological Transition, Teresa Ribera hopes to lead the Council of Ministers soon.

This Wednesday, Ribera confirmed that taxation is one of the elements on which the Executive is working within the shock plan that it intends to approve in the coming weeks to tackle this price crisis and cushion the impact of the wholesale markets.

“One of the possibilities that exists is to work on this hypothesis and that there are fiscal elements that we have to retouch, albeit provisionally,” said the third vice president and minister for the Ecological Transition and Demographic Challenge, Teresa Ribera, in statements to the media at an event in the Senate, reports Europa Press. The Government would thus be willing to extend the VAT reduction to 10% until the first quarter, as Ribera pointed out last weekend in an interview with Expansión.

Another measure that the Executive is preparing is to decouple the prices of the so-called pool to the cost of energy in the semi-regulated tariff of the voluntary price to small consumers (PVPC), even at the cost of a higher risk premium at the expense of the consumer.

This measure has been defended again this Wednesday by Iberdrola and Endesa in a conference organized by El Economista. The CEO of Endesa, José Bogas, has given as an example the case of Portugal, which has its wholesale electricity market integrated with the Spanish one, but “Portuguese customers are not worried” because “they have an annual rate that was formed before and They have not been affected “by this escalation.

Along the same lines, the CEO of Iberdrola Spain, Ángeles Santamaría, has defended that with this model “Portuguese consumers have not found out about anything” and have gotten rid of the “media scandal” that involves having the pool price “in the openings of newscasts and informative “. Iberdrola has ensured that customers who are in the free market (where the price is set by contract through rates that are usually fixed) are “fully protected” because “they have stable annual prices.” “We are assuming the increases that are seen”. “They do not benefit us at all,” he assured.

The discordant note was put in the same act by the CEO of Acciona Energía, Rafael Mateo, who pointed out that the PVPC “has proven itself year after year as the cheapest formula with respect to the best offers on the liberalized market.”

In a troubled river, the electricity companies refine their commercial strategy and this Wednesday, at the opening of the same act, the president of Naturgy, Francisco Reynés, announced the possibility that the eleven million customers who have their regulated tariff linked to the price of ‘ pool ‘can contract a liberalized rate with the company as of September 15 to cushion the rise in the price of electricity.

“Our objective is that during the next 24 months they pay the cost of energy within their bill at the same level of the price of the ‘pool’ that they had before the escalation, that is to say 60 euros per MWh”. The offer seeks that customers “stop worrying about the evolution of the pool every day” and is a sign of the “social commitment” of the companies, which has ensured it is “above the conjunctures”.



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