Spain has been 21 days in waiting for the gas price cap to come into force. The measure, approved by the government on 13 May, is still on the table of the European Commission, which is reluctant to back up its technical details. Corners of text that remain unknown to Spanish consumers.
Energy sector sources point to zero impact this measure could have on electricity bills. In some homes, its effect can also be negative. Specifically, customers who signed Renewal of their scheduled contract from last 26 April They will see how their bill becomes even more expensive. “This consumer could experience a 19 euro increase in their monthly bill,” says Jorge Sainz, associate director at Nera. These are the consumers Will not benefit from price range in the wholesale market, but they will have to pay the costs derived from the remedy. Therefore, these users will be most affected by this remedy.
Fixed customers will pay 19 EUR more per month, but will not get the savings
Impact will be limited to customers who are covered by regulated rate, the receipt of which vibrates every hour to the rhythm of the wholesale market. “We infer that pool will experience an average reduction of 36 EUR/MWh throughout the year, which will translate into savings of nine euros in monthly bill», says George Sainz, chairman of the 2018 Commission of Experts on the Energy Transition.
Since its announcement, the executive hasn’t stopped lowering expectations with respect to the benefits derived from the gas cap. Energy sector sources say, “Perhaps the government was somewhat reckless in relying on its entire attack against the hike in electricity prices for this measure.” Sedigas President Joan Batala made exactly the same recommendation last Tuesday. When asked about the measure, he said, “Any interference in the markets should be done very carefully.”
Portugal, France and Morocco will benefit from this move
However, in the application of gas price range will be the winner. Spanish main importer of electricity will buy electricity at a discounted price by the Spanish consumer, Despite the fact that the executive attempted to include an obligation to transfer part of those costs to French exports, the European Commission rejected it. As such, Spain found itself with a Royal Decree that allowed neighboring countries to access much better conditions than those that Spanish families themselves would have.
Our country sold more than 2 million MW of electricity to France, Morocco and Portugal in April. The cost of selling the energy which – once the measure is implemented – will be much lower than it is currently. should be added to Spanish consumers will suffer compared to Portuguese, Portugal has a high number of users with fixed contracts, in addition, Lisbon has removed the obligation to pay subsidies to customers who extend those contracts. that is, The Spanish will also subsidize electricity produced in the neighboring country.Since a single Iberian auction will be held.
impatience for application
The price of electricity returns to mark this Friday at over 214 euros MWh. is reaching its maximum between 23 and 24 hours. The gas cap – according to the Minister of Ecological Transitions – would hinder 130 euros. The actual result on the pocket of the user remains uncertain. Teresa Ribera herself acknowledged that there is a “certain uncertainty” in the calculation of the exact reduction.
Fixed customers renewing after April 26 will pay more due to gas cap