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    Electricity will rise 3% in the regulated market in October


    September 16, 2022 - CE Noticias Financieras

     

      News update

      The price of electricity in the regulated market will increase by about 5 euros per megawatt hour (MWh), as of October 1.

      The announcement was made this Thursday by the Energy Services Regulatory Authority (ERSE). According to the same entity, this increase represents a 3% rise in the bill for most customers and the update "occurs at a time when energy markets are particularly affected by the ongoing conflict between Ukraine and Russia.

      Iberian mechanism can be maintained but adapted to new measures, warns Brussels

      In the statement published on its official website, ERSE explains that the update of the energy tariff for the regulated market is evaluated quarterly and takes into account the acquisition costs considered for the supplier of last resort (LRS), according to the mechanism pre-established in the tariff regulation.

      In this sense, the regulator explains that "given the regulatory parameters established" there was a deviation of more or less 10 euros per megawatt hour compared to the acquisition cost that was initially expected, which translates into an update of the tariff by an additional 5 euros per megawatt hour.

      The impact of the increase, says ERSE, will translate for most customers into a 3% increase in the total electricity bill, with taxes and fees already included in relation to prices currently in effect, but points out that the values do not include the VAT reduction that is also planned for next month.

      Lower VAT on electricity affects "more than 85% of consumers," says Medina (with audio)

      Energy tariff prices have been updated twice this year: in April and July. With this new revision, effective October 1st, notes ERSE, the average annual tariff variation in normal low voltage (BTN) will be +1.8% compared to the same period in the regulated market of the electricity sector.

      In all, the revision of the energy tariff should cover about 927 thousand clients, based on data from July of this year. The regulator also advises consumers to be alert "to any changes in the price conditions practiced by market suppliers. This means that it is likely that very soon the energy companies operating in this market will communicate, by letter or e-mail, the change in the contracted price to their customers.

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