Monday, September 27

The price of electricity drops to 144.18 euros on the most expensive Sunday in history

The average price of electricity on the wholesale market or pool will go down again this Sunday and will be paid at 144.18 euros per megawatt / hour (MWh), cheaper than this Saturday (150.78), although it remains at such a high level that it marks the most expensive Sunday in history in Spain.

After two days above the barrier of 150 euros / MWh and breaking the absolute record at 152.32 euros on Friday, the price of the pool will be 15.48 euros more expensive tomorrow than last Sunday (128.70) and Quadruple that of the similar Sunday of 2020, when it was paid at 35 euros / MWh, according to data from the operator OMIE. By time slots, the maximum will reach 167.53 euros between 10 p.m. and 11 p.m. and the minimum will reach 110.01 euros from 5 p.m. to 6 p.m.

The increase in prices in the wholesale energy markets is a phenomenon that affects the whole of Europe, mainly due to the increase in gas prices in the international market and the increase in costs due to CO2 emissions.

In the United Kingdom, the MWh will be paid this Sunday at 161.94 pounds (189.63 euros), in Germany at 105.22 euros in France at 109.56 and in Italy, where the Government is preparing to intervene, at 133, 70, while in Portugal the price is the same as in Spain, since they share a market, according to data collected by Efe among the respective operators.

In Spain, the wholesale price has a weight of around 24% in the electricity bill of the more than 10 million homes covered by the regulated rate or Voluntary Price for Small Consumers (PVPC).

While the Government is working on a crash plan for citizens to end 2021 paying an electricity bill similar to that of 2018, the PP has announced that it will install tents to explain its proposal to lower the bill by 20%.

Calviño advocates adapting the rules

For her part, the Spanish Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, defended this Saturday that the countries of the European Union need to adapt their tax regimes to avoid sharp increases in energy prices and ensure that the ecological transition it is “fair”. Calviño has pronounced like this after participating in a meeting of the ministers of Economy and Finance of the EU in Slovenia in which they have debated on how to adapt the tax system “to the reality of the 21st century” so that it addresses the ecological and digital transition and “It is also fair from the intergenerational, social and inter-territorial point of view,” he said.

“We have to ensure that citizens can benefit from this transition, that the process is designed and implemented in a way that does not create imbalances or increase inequalities among citizens,” he said.

For this reason, he added, “we have to be very aware of the need to adapt our legal frameworks to ensure that we avoid situations such as the one we are experiencing now, with a very strong increase in CO2 and gas prices, which are leading to very high wholesale prices in energy markets. ”

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