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Electricity.  Dispatch announces that it will save 165 to 372 million dollars - News

Electricity. Dispatch announces that it will save 165 to 372 million dollars – News

In a press release, the Office of the Minister of Foreign Affairs confirmed that “according to the calculations requested by the Energy Services Regulatory Authority”, the order signed today “will make it possible to achieve significant savings for all Portuguese consumers, estimated today between 165 and 372 million euros”.

“The order establishes the settlement of contributions that have already been paid and the definition of tariff thresholds applicable in additional years’ periods of guaranteed wages for wind power generation centers, which have adhered to one of the reward systems provided for by Decree-Law No. 35/2013 of February 28, the same source explains.

According to the Council of Ministers, this decree-law “allowed wind power generation centers to enjoy an additional period of five or seven years of guaranteed wages, provided that annual compensation is paid to the national electricity system for a period of eight years, which occurred between 2013 and 2020.”

The memorandum continues, “The reference values ​​for annual compensation and the minimum and maximum limits for the applicable reward systems, contained in the aforementioned Decree-Law, are revised annually by multiplying them by a correction factor.”

The Bureau stresses that “the methodology adopted in applying this correction factor does not respond to the purpose intended to create it: to maintain parity between tariff thresholds and the compensation to be paid to obtain them, a situation which this arrangement corrects”.

Lusa asked the Ministry of Environment and Climate Action’s press office about when this decision would be reflected in consumer bills, but has yet to receive an answer.

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The Energy Services Regulatory Authority (ERSE) announced on Monday that electricity tariffs will rise from July 1 for domestic customers in the regulated market, reflecting higher energy prices in wholesale markets.

According to the regulator, “the estimated impact of the modernization of energy tariffs for consumers in the regulated market is 3%, relative to the prices in force, on the total electricity bill (with value added tax)”, which translates into an increase. Approximately €1.05 on an average bill for a couple without children (at a contracted strength of 3.45 kVA) and €2.86 for the consumption of a couple with two children (at a strength of 6.9 kVA).

In a statement, ERSE said that “given the -0.6% reduction in January, with this update, the average annual tariff variance between 2021 and 2020 will be approximately 0.9%.”

This tariff revision aims to adapt the energy tariff applied to regulated market customers to the development of wholesale market prices, which have been rising, and to avoid “recoverable deviations in subsequent years”.

This mechanism was first implemented in 2020, in the opposite downtrend.

In this context, the regulator has updated the energy tariff – a component of the electricity bill – with an increase of five euros / megawatt-hour.

The new energy tariff is effective from July 1, 2021 and covers consumers in the regulated market, which corresponds to approximately 5% of total consumption and 954 thousand customers, in February 2021, since the majority already have a merchant in the free market.