October 22, 2021

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The price of electricity falls on the most expensive Sunday in history today and will rise 5% tomorrow to reach 184 euros |  Economie

The price of electricity falls on the most expensive Sunday in history today and will rise 5% tomorrow to reach 184 euros | Economie

The average daily price of electricity in the wholesale market today will drop to 175.64 euros per megawatt-hour (MWh), 22.6% lower than Saturday, although it will be the most expensive Sunday in history.

This Sunday, the price will increase by 57.38% compared to last week, when electricity in the Spanish wholesale market was at 111.6 euros / MWh. Compared to last year, the price of electricity increased by 530.89%, six times more than the 27.84 euros recorded at that time.

On Sunday, September 26, so far, the most expensive price for electricity was set on that day of the week, at €160.42, but it was only two weeks before a new record was set with this Sunday, October 10.

On Sunday, the highest price will be between 8:00 pm and 9:00 pm, reaching 251.60 euros / MWh, while the lowest price will be recorded between 11:00 am and 12:00 noon, at 135.07 euros / MWh. .

This situation is taking place in the midst of the worldwide price hike of all energy-related raw materials, such as gas, oil and coal, which at the same time triggers the activation of carbon dioxide rights, also at record levels.

However, the government has already approved a shock plan that will contain these increases temporarily, by cutting taxes and reducing some extraordinary income from electric companies, so that they are not reflected in consumer bills.

However, since it is a global problem, the inflationary trend in all types of energy can be transmitted to the industry, which can cause pressures in its activity or transfer prices to consumers.

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Reducing the value-added tax to 10%, suspending a 7% tax on electricity generation, deducting the 0.5% electricity tax, or the expected contribution of 2,600 million euros by electric companies from the so-called ‘benefit from the sky’ are some of the measures taken by the Spanish government.

In any case, the price of the quotation published daily, as the CEO has already warned, will continue at high and rising levels, at least until March of next year, when these measures are expected to decline. In the meantime, the bill should continue to fall in prices despite the rise in the wholesale market.