The price of the regulated market energy tariff in the electricity sector will fall by five euros per megawatt-hour (MWh) from 1 April, ERSE - Energy Services Regulatory Authority - said on Wednesday.
According to the regulator, this update will result in "a reduction of approximately 3% in the average monthly electricity bill" for "most domestic customers.
In a statement, ERSE says that in the periodic review of the "adequacy of the energy tariff of the regulated market,
vis-à-vis the acquisition costs considered for the Supplier of Last Resort (LRS)" a deviation "of ±10 EUR/MWh was verified in relation to the acquisition cost initially forecast.
Thus, it says, "the Energy tariff is updated by ±5 EUR/MWh".
"For 2023, the update of the LRS acquisition cost forecast points to a deviation of - 73.04 EUR/MWh compared to the implicit forecast in the Energy tariff prices in force until March".
With this update, notes ERSE, the 3.3% increase in the Normal Low Voltage tariff announced for this
year, will only be 1% in 2023 compared to 2022.
According to the regulator, consumers in the regulated market represent about 7.5% of total consumption and totaled nearly 988,000 customers in January.