The charge of final resort for pure fuel will probably be between 37% and 41% cheaper within the first quarter of this yrThe common worth of electrical energy within the wholesale market in Spain amounted to 208 euros per megawatt hour (MWh)The vp defends {that a} good a part of this discount is as a result of completely different initiatives undertaken by the Executive through the yr
The common annual worth within the each day market in Spain was decrease in 2022 than that registered in France, Germany and Italy, as reported this Monday by the third vp and minister for the Ecological Transition, Teresa Ribera, through the stability of the +SE Plan associated to power measures.
As defined by Ribera, the typical worth of electrical energy within the wholesale market in Spain amounted to 208 euros per megawatt hour (MWh), of which 77.4 had been as a result of adjustment launched with the ‘Iberian exception’ and the opposite 131 had been positioned out of match.
Thus, the biggest hole between electrical energy costs was noticed within the comparability with Italy, with a distinction in favor of the Spanish market of 41%. In flip, for the primary time the worth in Spain was cheaper than in France (-35%) and Germany (-26%).
The vp has confused {that a} good a part of this discount in costs is as a result of completely different initiatives undertaken by the Executive through the yr. As indicated by Ribera, till January 8 the measures implied a saving of 4,577 million euros for Spanish households. In the case of susceptible households, their annual electrical energy invoice would have been diminished by a median of 17% in comparison with 2021, whereas within the severely susceptible the drop can be 28%.
With regard to the regulated tariff, Ribera has additionally highlighted the worth variations which have been implied by the power rules deployed. Thus, for the primary quarter of 2023, the Last Resort Tariff for pure fuel will probably be 41% cheaper within the case of contracting lower than 5,000 KWh (TUR 1) and can price 37% within the case of contracting between 5,000 and 15,000 KWh (TUR 2).
Natural fuel closes the yr 40% cheaper than in August
The vp has additionally taken inventory of the worth of pure fuel throughout 2022, the place a relentless lower in its worth has been noticed, particularly through the August-December interval, when the worth of this uncooked materials fell by 40%, going from 164 to 100 euros per megawatt hour.
The Minister for Ecological Transition has positioned explicit emphasis on the truth that, throughout the European framework, crucial level when it comes to the drop within the worth of pure fuel throughout December was noticed simply after adopting a fuel cap measure on the continent, which which highlights that this worth would have been “a lot greater within the absence of a European consensus”.
In reality, the worth of pure fuel within the Iberian Gas Market (Mibgas), closed 2022 at a worth of 60 euros/MWh, a worth that, nonetheless, Ribera believes is “excessive” when in comparison with historic data.
Russia barely provides 7% of fuel in Europe on the finish of the yr
Another of the factors reviewed by Ribera throughout his look was the scenario in Europe when it comes to safety of provide indicators.
Here, the vp has emphasised the discount of Russia’s share as a fuel provider within the Old Continent, going from offering round 40% to barely 7% in December, because of the beginning of the conflict in Ukraine in February of the yr previous.
The drop in Russian provides was coated by withdrawals from the storage of Member States, which accounted for 29% of the provision; adopted by liquefied pure fuel (LNG), with 28% and fuel from the North Sea (19%), amongst different sources of provide.
Regarding the extent of underground storage within the EU, it stands at 83% of its capability in January 2023. In Spain this degree reaches 94%, equal to 33 terawatt hours (TWh); whereas LNG storage stands at 69% (17 TWh), which as an entire ensures between 45 and 50 days of nationwide fuel consumption in winter within the occasion of a “whole rupture” of pure fuel arriving in Spain. , one thing “extremely inconceivable”, Ribera has acknowledged.
Spain scores an export stability with France and Portugal
A related level in Ribera’s presentation was the one referring to Spain’s electrical energy commerce balances with its neighbors France and Portugal.
Thus, from August 1 to December 31, Spain’s stability with France was clearly an exporter, with 6,792 gigawatt hours exported, one thing that reverses the historic development with the neighboring nation, for the reason that common for the final 5 years had been 2,165 GWh imported. Regarding Portugal, Spain additionally maintained an exporting place, with 2,595 gigawatts, which exceeds the measure of 534 GWh registered over the last 5 years.
As defined by the vp, in November 2022 the circulate of pure fuel to France elevated by 146%, with 2,026 GWh, a development that elevated to 4,991 GWh in December. In phrases of electrical energy, the rise in exports to France in November rose 23%, to 1,184 GWh, whereas in December it stood at 1,462 gigawatts, supplying 3.2% of the nation’s electrical energy consumption.
With these information, the accrued demand for pure fuel in Spain fell between 21% and 23% with respect to the typical registered within the final 5 years. In flip, the demand for electrical power on the nationwide degree through the yr decreased by 7.5%, additionally in comparison with the typical consumption of the final 5 years, which means an equal fuel saving of 16 days in December and of August 12 to November.