The price of electricity has shot up 27% in this start of 2021, reaching the 16.81 cents per kilowatt hour (kWh) with the regulated rate (PVPC), compared to 13.24 cents in the same period of 2020, according to data from Facua-Consumidores en Acción.
With the data for the first seven days of the year, the average user’s electricity bill would be 80.71 euros, which represents an increase of 19.3% over the 67.67 euros of the same dates last year.
This analysis is on an average consumer of 366 kilowatt hours (kWh) per month and that has a contracted power of 4.4 kW, the organization points out.
This increase in the price of electricity coincides with the cold wave that devastates practically the entire Peninsula Iberian for the storm ‘Filomena’.
So, the price of electricity for this Thursday in the wholesale market stands at an average of 88.93 euros per megawatt hour (MWh), a figure that is double the average in these first days of 2021.
In fact, according to data from the Electric Market Operator (Omie), the price will exceed 100 euros per MWh in practically half of the time slots, with a peak of 108.97 euros per MWh between 8:00 p.m. and 9:00 p.m.
Also contributing to this is price pressure in the gas market. Thus, according to Mibgas data, the price reached 38.9 euros per MWh this Thursday, 22.4% more than that marked yesterday.
According to data from Facua, the average user’s bill has not exceeded 80 euros since December 2018. Last month, the bill saw its first year-on-year rise after 19 consecutive months of declines. The increase was 7.2% for the average user.
Thus, the monthly bill with the average kWh rate in December 2020 represented 69.28 euros, compared to 64.62 euros in December 2019.