The regulator proposes to reduce electricity prices on the regulated market by 0.1% in June

ERSE – The Energy Services Regulator today proposed to reduce electricity prices on the regulated market by 0.1% from June compared to May, according to a statement released by the regulator.

“For consumers who remain in the regulated market (908 thousand consumers in February) or who, being in the free market, have opted for a similar tariff, the average price of tariffs sold to end consumers in low normal voltage (LNV), from May to June 2024 there is a slight decrease of -0.1%,” ERSE reported.

Despite this, “compared to the 2023 average price, consumers in 2024 will see a 2.8% increase in final sales price,” and “this increase is lower than the 2.9% increase previously announced for this year.”

According to ERSE, “Considering the BTN price to be representative of domestic consumers, they observe a five-year average annual growth of the final price of 0.9%.”

This exclusive tariff proposal means that for a couple without children with a power of 3.45 kVA (kilowatt-amperes) and a consumption of 1900 kWh/year (kilowatt-hours), the discount will be on average 0.20 euros.

For a couple with two children (power 6.9 kVA, consumption 5000 kWh/year) the reduction will average 0.10 euros per month.

In the case of the Autonomous Regions, compared to the average price in 2023, consumers in BTN “will see in 2024 an increase in the final selling price of +1.1% and +0.8% for the Autonomous Region of the Azores and for the Autonomous Region of Madeira respectively” , – ERSE indicated.

Compared to May and June, the Azores will increase by 1.6% and Madeira by 1.3%.

Consumers with a social tariff, in turn, continue to enjoy a 33.8% discount.

ERSE said that “this proposal for exclusive tariff setting, which aims to adapt energy tariffs and grid access tariffs to current market conditions and to avoid distortion of price signals, is fundamental to ensure tariff stability in an environment of volatility and instability.” . “There has been uncertainty in wholesale electricity markets since the beginning of the year.”

According to the regulator, “compared to what was assumed when calculating currently applicable tariffs, wholesale markets are experiencing a significant decline in energy prices, both prices occurring today and future market prices for the remainder of the year.” “.

At the same time, he noted, “energy prices registered on the wholesale market (MIBEL) averaged 44.4 euros per MWh in the first quarter of 2024. [megawatts-hora]which is significantly lower than the 88.3 euros per MWh predicted by ERSE for tariff calculations in 2024.”