The exception ibrica, the measure that allows Spain and Portugal to set a limit on the price of gas used to produce electricity, ceased to be in force with the end of the year 2023. This measure began to be applied after the war in Ukraine – which began in February 2022 – increased the energy crisis in which our country found itself.
He The average price of electricity for regulated rate customers linked to the wholesale market closed in 2023 at 87.1 euros per megawatt hour (MWh), which represents a reduction of more than half (-58%) compared to the 2022 figure, when the energy crisis from the war in Ukraine brought the price to a historic 209 euros. In addition, this figure would have been 23% higher if it were not for the Iberian mechanism.
For all of 2024, East VAT on electricity is expected to be 10%although the Government introduced a exceptionwhich is that if in a month the average price of electricity is below 45 euros/megawatt hour (MWh), in the next month for this to happen, a VAT of 21% will be appliedreturning to 10% if the price again exceeds 45 euros/MWh.
This way, VAT on the price of electricity rose from 10% to 21% in March, behind the descent in February of the price of the megawatt hour (MWh) below 45 euros. This situation is still maintained.
When will electricity be cheaper on Monday, August 5?
According to the data provided by the website of the Spanish Electricity Grid, The cheapest period of electricity on Monday, August 5 will be at 16:00 hours. The price of the kilowatt hour will be 0,12959 euros in the Peninsula, Balearic Islands, Canary Islands, Ceuta and Melilla.
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When will electricity be more expensive on Monday, August 5?
On the other hand, electricity will be more expensive throughout the Peninsula, Balearic Islands, Canary Islands, Ceuta and Melilla at 21:00 hours Monday, August 5, with a price per kilowatt hour of 0,26168 euros.
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How is the electricity rate calculated?
The electricity bill is calculated by Two prices, the one paid for the contracted power and the price resulting from the kilowatts consumed during the month.
In addition, It also depends on the type of invoice contractedwhich differentiates three types of periods depending on the time, which are peak hours (period in which the price of electricity is more expensive), off-peak hours (with a lower cost than in the most expensive period) and off-peak hours (period with a cheaper price for electricity). This billing model was implemented from June.
Regarding the choice of tariff, Users can choose two optionseither the rate offered by your marketing company, or opt for the regulated market with the Voluntary Price for Small Consumers (PVPC).
