It’s official: There will be reductions in the price of electricity
The price of energy is something that worries all Spaniards, which is why the government has been preparing a strategy with urgent measures and rapid application to cushion its effect on final customer bills.
After a considerable wait, this Tuesday, June 14, RDL 10/2022 comes into force, where generation plants that use fossil fuels will receive subsidies in order to reduce the price of energy.
With the expected gas prices in the forward markets, which on average stand at €73/MWhg for the next 12 months, the amount of the subsidy will be at an average value of €44/MWh and this will reduce the price of electrical market.
Consumers with anindexed price contract are those who canbenefit most from these measures.
Impact on consumers
The following table summarizes the impacts on consumers, taking as a reference those who will have an indexed price for 12 months and those who will have a fixed price (and not renewed) for 12 months.
Consumers with an indexed price will benefit from the reduction in the purchase price of electricity from the market. The result is a reduction of €8/MWh in its supply cost, equivalent to a reduction of €40 in the annual bill of a home with a consumption of 3,300 kWh.