Limit price on gas
Everything you need to know to understand what it means that there is a limit price on gas and how it will affect your electricity bill
On 05/14/2022 the Government published RDL 10/2022. The measure approved in this new standard consists, broadly speaking, of making an adjustment in the cost of production of electrical energy, with the objective that the purchase price of electricity in the wholesale market (OMIE) can lower approximately, according to the Government's own forecasts, up to €130/MWh.
What does this mean exactly?
The application of this adjustment mechanism will have the practical result of limiting the price of gas used by thermal power plants in their electricity production processes, in such a way that when they make sales offers in OMIE, the prices will be lower, contributing This is not only due to the reduction in the sale price of electricity to the consumer, but also to the volatility that has been experienced in recent months.
How will it affect the price of electricity?
It is estimated that the price of electricity in the wholesale market will drop, according to Government forecasts, between 25% and 35%.
Will my electricity bill be reduced?
The electricity bill of indexed customers will be automatically reduced. Fixed price customers who signed AFTER 4/26/22 have already been able to benefit from this price drop. And those fixed price customers who have a contract PRIOR to 4/26/22 will progressively benefit as their contracts expire.
Who or what will be responsible for this price limit?
It will be compensated by demand but only those clients indexed and with a fixed price signed after 04/26/2022. But don't worry, the adjustment applied will ALWAYS be lower than the savings obtained by the client.
If this is your case, on your next invoice after the start date of the adjustment mechanism regulated in the RDL, in BILLING DETAILS, you will be able to find a line that will correspond to this concept.