LUIS NGEL SANZ
Updated on Saturday, 11 September 2021 – 02:32
The company awarded the supply backs down due to the sharp rise in the market and forces the re-bid.
EMT fleet buses in Madrid.EM
The strong increase in the price of electricity in Spain suspends the electricity supply contract of the Municipal Transport Company of Madrid (EMT). Aura Energa, the company that won most of the lots in the last tender called by the Madrid City Council, has decided to renounce the award before signing due to the sudden increase in the cost of the megawatt hour in the market. wholesaler, sources from the electricity sector explain to ELMUNDO.
The shock leaves the municipal company without a new supplier, which has led its technicians to urgently seek new companies in the electricity sector that can take over their electricity demand. They have called us asking for a ransom, they explain in one of the groups that have been contacted in recent days to inform them of the announcement of a new contest. In any case, municipal sources explain that what with the electrical contract will in no case affect the service.
The company will have to face a larger contract than budgeted before the summer, with an estimated value of 13 million euros for a period of 12 months. In May, the date set in the tender specifications as the deadline for submitting offers, the cost per megawatt hour in the wholesale market was 67 euros per megawatt hour. In August, the same unit of energy cost 105 euros, 56% more. This increase in prices has also extended to the futures market, used by electricity traders to set stable supply prices. For 2022, these financial products establish a cost of 95 euros, spurred by tensions in the international price of gas and the higher price of CO2 emission rights.
The breaking of electricity contracts is a phenomenon that is repeating itself in a dangerous way during the months of July, August and the first days of September. Behind these suspensions there are two reasons. On the one hand, the difficulty of a marketer to meet the price of an agreed supply if it had not fully insured it with financial derivatives. That situation can lead you to sell below your cost, which is your downfall. Secondly, Javier Daz Carmona, head of the Ayming Energy Consultant area, He denounces that other companies simply break the supply contract and pay the penalty because it compensates them to resell the electricity that they do have more expensive insured to other customers.
This expert explains that the vast majority of large industrial consumers had signed a supply price close to 40 euros per megawatt hour for the whole of 2021. If that agreement is broken, the company has to sign a new supply that under current conditions is above three digits. A customer with a monthly consumption of 1,000 megawatts will suffer an increase in the bill of 80,000 euros, triple the one that had signed, highlights. The situation is similar in the case of gas.
The contract is broken by registered letter sent by the legal department of the marketer. In other cases, the electric company offers a long-term contract renegotiation with more expensive conditions for the group.
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