Ribera expects electricity prices to reach new historic records this year

The year has just ended in the history of our country as that year Recorded the most expensive electricity prices. Well, the year 2023 will break these records, according to the latest forecasts by the Ministry of Ecological Transition itself.

The department headed by Third Vice-President Teresa Ribera indicates that the estimated market price for this year is €207.88 per megawatt-hour (MWh), which represents an increase of 10% compared to the 2022 average (€188.64). . This is how it appears in the memory of the proposal in the order in which it is given compensation parameters From renewable energy sources, cogeneration and waste from January 1 of this year.

It should be noted that the average price of electricity exceeded €200 in seven of the twelve months of last year. And in August, it was a few cents from 300 euros. On the last day of that month, the average price reached a record high of €476.39 (including compensation to the gas companies for the “Iberian exception”).

We must also remember that on the last day of the year the average price was only €1.82 per MWh as a result of a sharp drop in demand due to it being New Year’s Eve, lower gas prices and an increase in wind power production, which is cheaper.

until, The real average price will be over 207.88 euros It is run by the Ministry because in its statistics it refers only to the result of the daily auctions of the wholesale market and excludes the compensation of gas companies that all consumers pay on their bills.

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Savings for the “Iberian Exception”

about this compensation or A mechanism that limits the cost of gas Which is used to generate electricity – since January, 45 euros per megawatt hour, confirmed by Teresa Ribera means savings of more than 4,000 million euros for consumers since it came into effect in June.

Right now, the first days of January average just about €100 per MWh, less than half of what was projected for the whole of 2023.

In the aforementioned report, the eco shift also provides an average price 2024 is 129.66 euros and 2025 is 78.19 euros.

Average annual price of electricity

in the wholesale market

Line: OMIE and the Ministry of Environmental Transformation / abc

Average annual price

from electricity

in the wholesale market

Line: OMIE and the Ministry of Environmental Transformation / abc

These calculations are based on the fact that in the year 2023 The cost of natural gas will remain high As a result of the Russian supply cuts, which made the rest of the supplies more expensive, and the slow growth of renewables. Last year, nearly 4,600 megawatts of new “green” capacity were installed.

This sector is suffering Departmental “bottleneck”. With all the red tape, especially with the environmental impact statements.

However, current gas prices are still below average at this time, as most European countries have full reserves and There is a lot of gas in the markets. Among other reasons, due to low demand in China and mild winters.

At the moment, the price of gas on the Spanish Mibgas market is approx 60 euros per MWh, When its price a month ago was 124 euros.

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