Tomorrow the Government will confirm a moderate rise in price for domestic electricity customers of between 2.2% and 3.7% under a new system for calculating the cost of electricity.
As reported in Nexonr last week the electricity companies had announced a rise of over 11% from January 1, 2014, but the Government declared the rise “unacceptable” and accused the electricity companies of “price fixing.
Over the past week there has been a war of words between the Government and electricity companies as the Government suspeneded the increase due to “non competitive practices” which the electricity companies deny.
The companies have been accused of “unusual manoevres” which have affected the cost of electricity on the wholesale market. Over the past week the “auction” of electricity on the free market has come under fire as “unfair to customers” and the Government has come under pressure to change the procedure for calculating the price.
Today the CNMC ( the National Commission of Markets and Competition) has proposed a new system for setting the price of electricity in the TUR (Tarifa de Último Recurso) which affects 20 million domestic customers. Under this new system the rise in market price in January would be between 1.4% and 2.9% leading to actual increase of between 2.2 and 3.7%.
The increase on your January bill is expected to be confirmed tomorrow.
