By Ron Howells • 13 September 2021 • 10:19
Electricity price in Spain to skyrocket again on Monday, January 10.
Electricity price in Spain hits a new historical high in September at €154 per MWh on Monday, September 13.
The average price of electricity in the wholesale market or ‘pool’ as it is called, starts the week with a new record, at €154.16 per megawatt/hour (MWh), which is above what was reached last Friday, at €152.32 per MWh.
From today, Monday, September 13, it is almost 7% more expensive than yesterday, when it reached the highest price for a Sunday since records began (€144.18), and almost four times more than the same Monday of 2020, in which was paid at €43.49 per MWh.
The first two weeks of September already have the record of having the highest prices ever seen in the wholesale market.
Prices continue to break all records
In August, and during the peak of the heatwave, the price was setting one 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, with a price of 92.4 euros.
Given these new historical records, the Council of Ministers is expected to take measures to fulfil Spanish PM Pedro Sánchez’s promise: that this year the electricity bill will not be more than in 2018.
The package of measures that the executive is preparing includes new tax cuts. Among the proposals is a way of reducing to a minimum the tax on power generation, which accounts for just over 5% of the electricity bill of domestic consumers.
Everything so far rumoured by government ministers also indicates that the VAT reduction from 21 to 10% that has been in force since June will be extended for at least another quarter.
Beyond the purely fiscal measures, the Council of Ministers could revise the regulated PVPC tariff so that it is not so exposed to so many fluctuations in the wholesale market, or force large electricity companies to auction energy between consumers and industrial users.
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Ron actually started his working career as an Ophthalmic Technician- things changed when, during a band rehearsal, his amplifier blew up and he couldn’t get it fixed so he took a course at Birmingham University and ended up doing a degree course. He built up a chain of electronics stores and sold them as a franchise over 35 years ago. After five years touring the world Ron decided to move to Spain with his wife and son, a place they had visited over the years, and only bought the villa they live in because it has a guitar-shaped swimming pool!.
Playing the guitar since the age of 7, he can often be seen, (and heard!) at beach bars and clubs along the length of the coast. He has always been interested in the news and constantly thrives to present his articles in an interesting and engaging way.
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