The price of light takes a break and this low Monday of the 90 euros

The average price of light in the wholesale market will take a respite on Monday, August 16, and will go down the third consecutive day, up to an average price

The price of light takes a break and this low Monday of the 90 euros

The average price of light in the wholesale market will take a respite on Monday, August 16, and will go down the third consecutive day, up to an average price of 88.92 euros the megawatt hour (MWh), versus 110.02 euros of this Sunday (-19.18%).

With this decline, the price of low light of 100 euros for the first time since August 8 and leaves behind a week in which five consecutive days of historical hikes, between Monday and Friday have happened.

Last year by these dates, the average price was 29.08 euros MWh, so the rise is 205.77%, that is, the price of today triples the registrar exactly one year, according to OMIE data collected by Europe Press.

Between Monday and Friday last week, historical records were recorded on the price of light, coinciding with the wave of heat that is whipping the country, with some of the higher temperatures ever recorded in Spain.

This context of climate change is also one of the main causes of the continuous rise in energy prices, since it responds to the emission rights of carbon dioxide (CO2), seeking the transition towards a renewable energy model.

The electric pool will register for this Monday, August 16 an average price of 88.92 euros / MWh. The maximum daily will be from 10 pm to 11:00 pm (109.35 euros / MWh), while the minimum will be given between 19:00 and 20.00 (82.6 euros / MWh).

Last July, the price of light closed at an average of 92.42 euros / MWh, which represents the highest level of history and 166.8% above the same month last year.

So far in August, the 'Pool' has registered eight records: the five that marked between Monday and Friday of this week, and those experienced on Monday, Tuesday and Wednesdays of the previous week.

The increase in the price of the electricity market is motivated by the high prices of the emission rights and the increase in natural gas.

Specifically, the emission rights have been aborted until it is in what is going from August at an average of almost 56 euros per ton, when at the beginning of the year they were listed around 33 euros. Meanwhile, the price of natural gas is up to 47.84 euros per MWh, according to MIBGA data.

The price of energy has a nearby weight on the invoice of around 24%, while around 50-55% corresponds to tolls - the cost of transport and distribution networks - and charges - cost-associated costs Of the renewables, the extrapeninsulars and the annuities of the rate deficit - and the rest, on taxes.

The oscillations in the daily price affect consumers welcomed at the regulated rate (PVPC), something more than 10 million, while they are exempt by those in the free market - a 17 million, as they have a precipated price with your company.

As they indicated to Europe Expert Press of the sector, 88% of Spain's electricity consumption is not exposed to the volatility of the price of the market 'Spot', having contracts with fixed prices, as well as exposed to it the customers welcomed to the PVPC.

The receipt of the light of an average user has been increasing 36.2% in July with respect to the same month of last year, standing at 85.34 euros, according to facu-consumers data.

VAT drop to 10% until December while the average price of the megawatt hour is above 45 euros cushion the rise at 8.54 euros. If 21% continue to be applied, the receipt would have beat all records, reached 93.88 euros, according to the calculations of the Association.

On June 24, the Government approved a Royal Decree-Law by urgency to reduce taxes that apply to the supply of electricity and, thereby, the invoice of light of households, autonomous, SMEs and the set of Companies, which pose the Light VAT drop of 21% to 10% until the end of this year and the 7% tax suspension to electricity generation for three months.

In the specific case of VAT, a 10% drop was applied until the end of the year for all consumers hired up to 10 kilowatts (KW), provided that the average monthly price of the wholesale electricity market is above 45 euros by megawatio hour (MWh).

With regard to the suspension of 7% of the tax on the production value of electricity, which already in 2018 decided its temporary suspension for six months to contain another bullish wave in the price of light, will be valid during the Third quarter of this year.

Updated Date: 16 August 2021, 02:54

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