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HIREElectricity Indexed Rate
Pay for electricity at wholesale price
Indexed Rate for Homes
The Indexed Rate from Audax Renovables is aimed at households that are committed to efficient electrical management, especially for supplies that want to pay the price of electricity each month based on the price established in the electricity market.
What is indexing? It is a form of contracting that consists of paying a variable price for the electrical energy consumed. That is, with the Indexed Rate for electricity, the consumer pays for the energy consumed at the cost price established in the wholesale market plus a small management margin that will be paid to the marketer.
In this way, energy is paid every hour at the real price at which it is being sold in the electricity market. With the Indexed Rate you avoid paying the risk premium associated with any fixed rate throughout the contract period.
From June 1, 2021 The Government establishes new electricity rates. This regulatory change applies to all electricity consumers, of all existing rates. You don't have to do anything, it is an automatic transmission and, therefore, unless you want to modify the power, you don't have to do anything.
For consumers whose contracted power is less than 15 kW (they are usually individuals and businesses), three consumption periods are established, the price of which will vary depending on the time and day. Now the timing of your consumption is more important, so try to make your consumption occur in the cheapest period, the so-called Valley Period.
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Benefits of the Indexed Rate
The main advantage of the Indexed Rate is the savings that are usually obtained in relation to fixed rates. It allows consumption to be adapted to take advantage of the hours in which electricity is cheaper and thus avoid the risk premium associated with fixed rates.
- Pay for each hour what electricity costs, thus maximizing savings.
- Pay for energy at wholesale price.
- Avoid the risk premium associated with fixed rates.
Components of the Indexed Rate
The Indexed Rate, like the Fixed Rate, has two components:
- Power term: which does not vary depending on consumption, it is a fixed cost per day billed. This is the price you pay for the electrical power contracted in your home. It is measured in kW. Depending on your consumption needs, you will have to hire more or less power. For example, the more contracted power, the more electrical appliances you can have on in your home, but your fixed monthly cost will also be higher. In summary, the power term will be marked by the electrical power subscribed with the marketer.
- Energy term: in the Indexed Rate the price of energy is paid based on consumption and the price/hour of energy in OMIE (Iberian Electricity Market Operator), plus a management fee. In this way, energy is paid every hour at the price that is actually being sold in the electricity market. This avoids paying, throughout the contract period, the risk premium associated with the entire Fixed Rate.
INDEXING FORMULA
(1) INDEXED PRICE: The amount of the monthly price of the energy term will be made at the hourly level. The hourly price calculated according to the following formula will be multiplied by the consumption at the border point at the customer's hourly level based on the hourly profile as established in the General Conditions of the Contract. Additionally, a Financial Cost of 1.1% will be applied to all components of the contract, including VAT or IGIC.
PEh = [(OMIEh +COSh +PCh + CD) x (1 + PRh(%) + GO] X 1,015 + TA |
Where:
OMIEh = Daily market price (OMIEh).
COSh = Cost of the REE system operator** + OS and OM Remuneration + Energy Efficiency Fund + Marketing Charges***
PCh = Capacity payments.
CD = Deviation cost.
PRh(%) = Losses of the Transportation and Distribution Networks, according to current legislation at all times.
GO = Operating Expense _______c€/kWh
TA = Energy term of the Access rates, according to current legislation at all times.
*In SEIE for the SEIE hourly price for marketers (except CUR)
I want to contract the Indexed Rate
If you want to pay the price of energy at market price, the Indexed Electricity Rate is the one that best suits you.
It is important that you are clear about the following points:
- The duration of the contract is 12 months. Yes, our contracts are permanent, since it precisely helps us to offer you better prices.
- At Audax Renovables we manage and make purchases in the Spanish Electricity Market with absolute transparency. The customer, in addition to paying for electricity based on the market price, must pay a small margin to the supplier for management purposes. This will be specified in your contract.
Hire the Audax Renovables Indexed Rate for your home right now and pay for electricity according to the price established in the electricity market!
