Increases in the prices of natural gas and electricity for domestic customers, in both the regulated and in the liberalised markets, come into force on Saturday, and in some cases will add almost €40 to monthly bills.
The announcements of increases have been made one by one by suppliers and the sector regulator, but the coming into force of the new prices now happens at the same time for all domestic customers, as well as some small businesses.
Here are some key points about the price increases:
– From Saturday, those who are EDP Comercial customers will start paying an average of €30 more per month for natural gas, plus €5 to €7 in fees and taxes, a rise that the company has justified with the price escalation in international markets, after a year without its updating tariffs.
The new prices will be in force for three months instead of a year, as usual, and will be subject to upward or downward revisions at the end of that period.
– In the case of the supplier Galp, the increase in the natural gas bill will be around €8, for the most representative range of customers.
The company also justified the rise with the “acquisition cost in line” with international market prices.
Galp had updated the price of its natural gas on July 1, with an increase of around €3.60 for the most representative range.
– Goldenergy customers, meanwhile, will suffer average increases of €10 on their monthly gas bills, covering both families and small businesses.
The energy company justified this increase with the costs of regulated accesses, the volatility of the market and the escalating gas prices.
The new tariff will be applied until the end of the year, and will be reviewed in light of market changes.
– EDP Comercial ruled out “further changes until the end of the year in the price of electricity” unless there are “exceptional situations in the course of the coming months.”
– Customers of Endesa, which has pledged to maintain contract prices until December and to comply with the commitments established in the Iberian mechanism, also remain without rises, after the company’s president said that electricity would rise 40% in August.
– Iberdrola also did not announce increases.
Announcements of price hikes on the free market have led the government to approve a measure allowing consumers on the liberalised market to return to the regulated market for gas, as was already the case with electricity.
The regulated market offers cheaper tariffs, but the Energy Services Regulatory Entity (ERSE) announced a new increase in the price of energy in the regulated natural gas market.
Thus, from Saturday, an increase of 3.9% comes into force compared to the previous month and, since updates were made throughout the year, the increase is 8.2% for the year 2022-2023, compared to the previous year (2021-2022).
In the case of electricity, customers on the regulated market will now pay €5 more per megawatt-hour, equivalent to an average 3% increase in monthly bills.