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Tuesday, May 24, 2022
HomeLatest NewsThis Sunday, electricity will drop by 7%, which will be the lowest...

This Sunday, electricity will drop by 7%, which will be the lowest price this month.

The electricity bill accumulates four days in decline. The electricity price on the wholesale market (pool) is set for tomorrow, May 8, at 172.39 euros per MWh (EUR/MWh), which represents a decrease of about 7% compared to the value set for this Saturday, when lowest price this month. According to the Iberian Electricity Market Operator (OMIE), the maximum price will be fixed tomorrow between 21:00 and 22:00, when it will be 238.35 EUR/MWh, and the minimum price will reach 93.26 EUR/MWh from 15:00 to 16:00 :00.

So the price for tomorrow, Sunday, the day of the week when economic activity is down and energy demand is lower, will be the lowest that month, and the cheapest since April 24 last yearwhen electricity was paid at 146.95 EUR/MWh. Despite this second fall, the price of electricity will be 17 times higher than the amount recorded on the second Sunday in May of the previous year (10.53 euros), although it is still 16% lower than the price of electricity . figures for February 24 last year, when the Russian invasion of Ukraine began.

While this month the average electricity price reaches 188.62 EUR/MWh, nearly 100 euros below the average recorded in March (€283.3/MWh), the most expensive in history to date, although almost double the price of 2021, which was the most burdensome year in the historical series with €111.4/MWh. The prices on the wholesale market have a direct impact on the regulated tariff or PVPC, which covers almost 11 million consumers in Spain, and serve as a reference point for the remaining 17 million who enter into supply contracts on the free market.

In this sense, the Russian invasion of Ukraine is causing tension in the energy market, especially in the case of gas, due to the risk of slowing down Russian imports to Europe due to sanctions imposed by the European Union. The government approved a national plan to respond to the economic and social impacts of the situation in Ukraine, which includes the extension of the exemption on the tax on payment of electricity bills until June 30, as well as the extension of the social surcharge for electricity to 1.9. million beneficiary households.

In addition, the European Council recognized the difficulties of Spain and Portugal. cope with high energy priceswhich will allow both countries to take advantage of “special treatment” in their response, which goes through fset a maximum gas price which is used to generate electricity. In this sense, the European Commission has agreed to initially set this limit at 40 euros/MWh over the next twelve months, to stabilize at an average of around 50 euros over the entire period, thus reducing the cost of electricity for Iberian consumers. consumers will notice from this month. As for the rest of the European countries, in the United Kingdom tomorrow a megawatt-hour will be paid on average at 141.79 pounds (about 166 euros), and in Germany – at 171.82 euros; in France 175 euros; in Italy – 208.85 euros; and in Portugal which shares the market with Spain, although sometimes the prices are not related due to differences in production, 174.09 euros.


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