One of the cases derived from the current international context that affects us the most is the increase in the cost of energy supplies. The energy bill has overwhelmed thousands of families for several months, and despite the relief provided by various government measures to mitigate it, it remains one of the main concerns of the Spanish people.
And it doesn’t look like the trend is going to change anytime soon. At least that is what can be deduced from the latest report by Caixabank Research as it updates its forecasts for the future of the Spanish economy.
And according to a study by the bank, after an average growth of 30% experienced in energy prices throughout 2022, which was largely mitigated by The financial measures taken by the government to mitigate this escalationit will not subside in 2023, but it will rise slightly more (2.3%).
Similar prices in 2023
“Gas prices have stabilized in recent weeks, but the outlook remains challenging,” the report adds, indicating that the first signs of a decline will arrive as early as 2024.
It has stabilized at around €130 per megawatt hour (MWh) thanks to the EU’s high storage levels, energy saving measures and various short-term support factors.
It has recently stabilized at around €130 per megawatt hour (MWh) thanks to the EU’s high storage levels, energy saving measures and various short-term support factors. – Mild weather and discussions about new EU measures –However, futures markets expect prices to remain near current levels in 2023,” says Caixabank.
By 2024, the bank’s analysts expect a slight decrease of 1.6% in inflation related to energy products, which will relieve the monthly bill that causes so many problems for many families.