The average daily price of electricity in the wholesale market in Spain will reach 188.1 euros per megawatt hour (MWh) this Thursday, a new all-time high that pulverizes the previous one of this same Wednesday (172 euros) and the previous one of only two days ago (153 euros).
The new records come after this Tuesday the Council of Ministers of Spain approved a shock plan to lower the electricity bill with a star measure, the reduction of the payment for CO2, which will detract 2.6 billion euros of the extraordinary profits that until now went to the hands of non-gas energy technologies, and that will now be directed to reduce domestic and business bills.
The Government of Spain cuts 2,500 million euros from electricity companies and approves tax cuts to lower the electricity bill
The upward escalation in prices has been going on for months, so that July 1 rose as the most expensive month in history, to be subsequently ousted by August, while it seems that September will end up with that controversial crown.
Prices are being increased by the remuneration of the gas and of the CO2 emission rights in international markets, with large increases in recent quarters. In the case of Spain, the price of the most expensive technology, in this case gas, is the one paid for the rest of the energy, including the cheapest to produce, such as hydroelectricity.