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Delay in imposing gas cap may add 14 euros to electricity bill

Customers subscribing to the regulated rate could save around 14 euros on their bills if the cap on gas price…

By admin , in news , at June 1, 2022

Customers subscribing to the regulated rate could save around 14 euros on their bills if the cap on gas price had been implemented after the government’s approval. The Council of Ministers gave its approval to the measure on 13 May. The next day the rule was published in the BOE. Since then, time has been hammering down executive forecasts.

The Minister for Ecological Transition calculated that support from Brussels would be reached within a maximum period of two weeks; This Friday is of 21 days. Throughout this time, Teresa Ribera has not stopped pinning down expectations around the measure. That 13 May, the minister calculated that stopping the gas would reduce user receipts by 30%, just days later the third vice president himself reduced that figure to 15%.

The long wait has created many doubts about the remedy. From the sector, he fears the cap’s impact on gas is less than what Ribera predicted. Over the past few weeks, experts consulted by El Debate have warned that, if the cost of the measure is placed on the shoulders of regulated rate users, “that cost will outweigh the shortfall that the cap itself has contained at cost.” is. gas”.

an uncertainty that has already begun to escalate Futures Market, On 25 May, a wholesale price of 166 EUR/MW was forecast for the month of June; After only two days, the promise of the sixth month of the year They point to 180 euros, Industry sources say, “There is no fear at the moment, but there is impatience.

With no news from Brussels, which is still debating support for the measure, the volatility in the electricity market is affecting the pockets of Spanish homes. May closes a . with Average Monthly Receipt 98.8 Euro, according to OCU. During the last 31 days, the wholesale market has breached the 187 EUR/MW barrier, which is a far cry from the 130 EUR gas ceiling promised. According to OCU calculations, This measure will relax the average bill to 85 euros,

Rein on gas, inflation lifeline

This is one of the last lifelines that the government has to try to cool the inflation rate. May be closed with a CPI 8.7%, according to INE. Electricity, gas and oil prices, which have destroyed the 20 cents per liter gasoline savings promoted by the executive, threaten to set Spain at record highs.

They demand from the OCU that this measure be implemented once. They seek to definitively break the price spiral created by the price of electricity, which is rapidly spreading to other goods and services, and inflation which has not been seen for 30 years.

This Tuesday, the President of the Government continued without giving a definite date for the application of the criteria. Pedro Sanchez He hoped – at the press conference after the European Council – to receive authorization “soon”.

Last Monday, Industry Minister Reyes Maroto had hoped to get the guarantee this week. “When it is approved it will be immediate and we hope it will be this week,” Marotto said, noting that the government plans to expand to other measures to control energy prices. Specifically, the minister said, the reduction of VAT on electricity from 21% to 10% or the freezing of electricity tax at 7%.

Delay in imposing gas cap may add 14 euros to electricity bill

2022-06-01 02:44:40