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    Electricity price rises 12.74% this Monday to 227 euros/MWh


    January 24, 2022 - CE Noticias Financieras

     

      The average price of electricity in the wholesale market continues to rise this Monday with an increase of 12.74% compared to this Sunday, standing at 227 euros per megawatt hour (MWh).

      Specifically, the pool will register an average price of 227 euros/MWh

      this Monday, some 26 euros more than the 201.34 euros/MWh of this Sunday, according to definitive data published by the Iberian Energy Market Operator (OMIE).

      By hourly time brackets, the maximum price of light for this January 24 will be between 19.00 hours and 20.00 hours, with 297.33 euros/MWh, while the minimum, of 177.46 euros/MWh, will be recorded between 03.00 hours and 04.00 hours.

      With respect to a year ago, the pool price for this Monday will be 690.11% more expensive than the one recorded on January 24, 2021

      , of only 28.73 euros/MWh.

      Pool prices have a direct impact on the regulated tariff -the so-called PVPC-

      , to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market, according to Europa Press.

      The increase in price in recent months in the electricity market is mainly explained by the high prices of gas in the markets and carbon dioxide (CO2) emission rights

      , at historic highs this year.

      Electricity closed 2021 as the most expensive year in the historical series

      , with an average price of 111.93 euros/MWh due to the upward spiral registered in the pool in the second half of the year.

      The month of December recorded an average monthly price in the wholesale electricity market of 239.1 euros, the highest monthly price in history

      after exceeding the 200 euros/MWh of last October by more than 39 euros.

      The Government has extended until April 30 the rebate on the taxes included in the electricity bill

      paid by all consumers in order to alleviate the negative effect that the rise in electricity prices is having on citizens.

      Specifically, the reductions in VAT from 21% to 10% and in the special electricity tax from 5.11% to 0.5%, the legal minimum, have been extended until April 30. However, the suspension of the 7% generation tax paid by companies will only be maintained, for the time being, until March 31.

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