Updated on Tuesday, September 14, 2021 – 13:10
The rise, in a single day, is 12.6%: this Tuesday it stood at 153.43 euros per megawatt hour (MWh).
Teresa Ribera, third vice president and minister for the Ecological Transition, .
The price of light is skyrocketing. The appearance of a new record no longer surprises the consumer, although I do know the dizzying pace that this time the increase in the bill acquires. This Wednesday, the historical data of 172.78 euros / MWh will be reached.
The rise, in a single day, is 12.6%, as this Tuesday it was estimated at 153.43 euros per megawatt hour (MWh), after falling 0.5% compared to Monday. While the Government tries to stop the unstoppable escalation, the price of electricity increases by practically 20 euros, pending the details of the measures that the Executive will undertake this Thursday in the Council of Ministers. This Wednesday, the price of a megawatt hour is 253.3% higher than a year earlier (48.9 euros / MWh) and 27.4% more expensive than the same day last week (135.65 euros / MWh).
According to the figures of the electricity market operator (OMIE), the peak during the day will be recorded between 9:00 p.m. and 10:00 p.m., an hour in which the highest peak of the bill in Spain will be reached. 180.3 euros per megawatt.
In fact, the minimum this Wednesday, of 159.42 euros (between 23:00 and 00:00), exceeds the previous historical daily maximum, which was marked this Monday and stood at 154.16 euros.
The President of the Government, Pedro Sánchez, announced this Tuesday in an interview for TVE a series of measures to alleviate the unstoppable rise: detraction of the benefits obtained by electricity companies thanks to the evolution of gas prices, a reduction in the special tax on electricity (from 5.1% to 0.5%), the suspension of the generation tax paid by electricity companies (7%) and the well-known VAT reduction from 21% to 10%.
“We are going to detract those extraordinary benefits that energy companies have, they can afford it, and redirect consumers to face the rise that is going to come in the next few months in the price of gas, cover the gas bill, and with this measure also reduce the electricity bill, “said Snchez. in La 1. Consequently, the electricity companies have experienced a punishment in the Stock Market session this Tuesday, with Endesa as the IBEX company that loses the most. For her part, third vice president and minister of the branch Teresa Ribera participate in the round of press after the Council of Ministers to expose the details of the Government’s plan to stop the rise.
Among the key factors of the constant increase in the price of electricity stands out the rise in the price of gas, also at historic highs. In Europe, the scarce inventories in underground storage are weighing, the lack of supply by gas pipeline and the competition of the Asian market to bind liquefied natural gas (LNG) that could be transported by ships to the Old Continent.
Spain is specifically the European country with the most expensive gas. The price for the Iberian Gas Market (Mibgas) has already risen to 63.72 euros / MWh and for October it will mark 62.96 euros / MWh.
Gas, at a prohibitive price, is used in combined cycle plants, which then determine the price of the pool. Thus, the electricity market quickly replicates the fluctuations in the price of gas, which is clearly more expensive.
In the United Kingdom the megawatt hour will be paid this Wednesday at an average of 375 pounds (440.5 euros); in Germany, 168.2 euros; in France, at 166.8 euros, or in Portugal at the same price as in Spain, with which it shares the wholesale market, according to data collected by ..
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