The price of electricity drops 10% for Friday but closes a record first half of January

The average price of a megawatt hour (MWh) in the wholesale electricity market for this Friday will fall by 10.1% to stand at 78.42 euros, according to data just published by the market operator OMIE. It is the second consecutive fall after the escalation in recent days, in parallel to the cold wave that has hit Spain, but it will place the average price of the so-called pool at 72.62 euros, well above that of a year ago ( 27.47 euros) and the highest collected by OMIE statistics.

Teresa Ribera: “It is not clear to me that setting a single price or creating a public company will facilitate any type of transformation of our electrical system”

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There are still two weeks until the end of January, but consumer organizations are accounting for the effect of these increases in the pool, which have caused a political storm and have opened a new point of friction within the Government.

Facua, who has requested a meeting with the fourth vice president and minister for the Ecological Transition, Teresa Ribera, calculates that in the first two weeks of 2021 the final price for an average domestic user is going to shoot 40% compared to the same period of 2020, which was one of the cheapest in the historical series.

These pool increases, which have occurred in a context of high gas prices and CO2 emission rights, high demand, low temperatures and little wind energy production, are only immediately reflected in the regulated tariff, the Voluntary Price for Small Consumer (PVPC), to which 11 million households are sheltered. This price changes every hour depending on the pool, but in the long run it is cheaper than the offers that the electricity companies promote and it is the one that most compensates for consumers, according to experts, the Government and the National Commission of Markets and Competition. (CNMC). This body is analyzing the escalation of these weeks in case there is any behavior contrary to the proper functioning of the market.

In an interview on Wednesday in elDiario.es, Ribera relied on a “recovery of normality” in electricity prices “from next week” and stepped up to meet the demands of United We Can to start up now the reform of the electricity market that was included in the government agreement and that promised to tackle the so-called “benefits fallen from the sky” of hydroelectric and nuclear plants.

According to Ribera, the reform must be done “carefully” so as not to scare investors away and there are “three or four” options on the table, among which he cited measures to “affect the internalization of the CO2 not emitted by the technologies in the final price non-issuers “or” a security system for when there is a very large differential “between the costs of certain technologies and wholesale prices.

The vice president also reiterated her rejection of some of the Podemos proposals, such as the creation of a public electricity company or the nationalization of the sector: “I am not sure what to set a single price, the creation of a public company or the nationalization of the sector. , are going to facilitate any type of transformation of our system. Upside down”.


Source: ElDiario.es – ElDiario.es by www.eldiario.es.

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