The daily average price of electricity in the wholesale market will rise this Monday to 174.68 euros per megawatt hour (MWh), which represents an increase of 8.89% compared to that registered this Sunday (160.42 euros). The cost of electricity thus returns to the upward path and marks the third highest price in history. It also rises 11.4% compared to just a week ago, on Monday, September 20, when it was trading at 156.75 euros.
Since September began, when the price reached 132.4 euros, the price of electricity has been chaining one record after another. However, it has been ten days since the last highest price in history was registered, of 188.18 euros, a level that has not yet been exceeded, according to data from the operator of designated electricity market (OMIE).
The 174,68 euros This Monday they quadruple the price of electricity from a year ago and represent the third highest price in history, after the 188.18 euros registered on September 16 and the 175.39 euros on September 22.
The highest price this Monday will be between 8:00 p.m. and 9:00 p.m., when it will reach the 195.26 euros / MWh, while the lowest will be recorded between 03:00 and 04:00, when it will trade at 138.60 euros. After breaking historical records in both July and August, September already has to its credit the highest prices registered so far in the wholesale market.
In August, and in the heat of the heat wave, the price was setting a new record after another, causing the average price of the month to reach 106 euros / MWh, the most expensive in history, followed by July, which already set another record , priced at 92,4 euros.
Reduction in the invoice
These high values in the price of electricity are due to the international gas price -used in thermal power plants-, which, after registering a strong mismatch between supply and demand in recent months, has exploded in full economic recovery, as well as the impact of the cost of emitting CO2.
In the context of this crisis, the government It has already approved a crash plan so that this lack of control in the listing prices is not transferred to the invoice that consumers disburse, with the aim that this year, at most, the same amount that was paid in 2018 is paid.
The reduction of 10% VAT, the suspension of the 7% tax on electricity generation, the discount of the electricity tax at 0.5% or the expected contribution of 2,600 million euros by the electricity companies from the so-called ‘profits fallen from the sky’, are some of the measures undertaken.
However, the price of the quotation that is published every day, as the Government has already warned, will continue at high levels and rising, at least until March of next year, at which time these measures are expected to decline. Meanwhile, the bill should continue to fall in price despite the rise in the wholesale market.