Spain paid an average of 88.47 euros/megawatt hour on Monday, close to the highest price of the year during the winter storm Filomena. With momentary peaks of up to 95 euros per megawatt hour. The same price was paid in Portugal – which is part of the so-called “Iberian Electricity Market” – but there the final price is lower because it applies 6% VAT, compared to 21% in Spain. In…
ASE Group | The rise in the price of CO2 emissions, up 36% so far this year to 45 euros per tonne (when a year ago it was around 15 euros per tonne) and in the price of gas, up 200%, is pushing up electricity prices across the continent, both current prices and those on the futures markets. Thus, for example, in Spain, the daily price of electricity on the wholesale market for the first 15 days of April stood at 58.13 €/MWh. This is 60% higher than at the end of March and also 60% above the average for the month of April in the last 5 years. If we compare it with April of last year, in the middle of the sanitary confinement, the price rises by 229%.
Santander Corporate & Investment | We have revised our valuation and forecasts for Acciona (ANA) (Underweight, TP 96.00)
The French company Total has burst in to the race launched in Spain by the oil companies to offer electricity and gas services to all kinds of clients, in direct competition with the big electricity and gas companies like Endesa, Iberdrola and Naturgy.
The advances in inflation figures throughout the Eurozone will be a subject of debate in the coming weeks, not least because of its bigger-than-expected rise. An increase which has a common thread in the form of hikes in energy prices and, to a lesser extent, in food prices.
By Juan Pedro Marín Arrese, in Madrid | Year after year, electricity prices have been reined back below recognised costs, building up a deficit running now at €24 billion. This huge hole turned into a right to be paid back in future has suddenly been put in jeopardy. No wonder power companies are talking about daylight robbery. Are they justified in venting their anger on government? One can understand the…