The Households Panel of the National Markets and Competition Commission (CNMC) put figures yesterday to what is a widespread feeling; the electricity expenditure of Spanish households has fallen. Specifically, Spaniards spent during the second quarter of 2023, (last known data) 43.3 euros per month, 12.9% less than the same quarter of the previous year.
Among the reasons that underpin this decline is the 6% drop in consumption. After more than two years of an energy crisis with skyrocketing electricity prices and continuous awareness campaigns for savings, these customs remain. One of these practices is the installation of solar panels. In 2022, with an additional 2.5 GW installed, a record was set, with the objectives of lowering the bills of those who install and also withdrawing consumption from the general network.
Climate change has been another factor that has dampened the panic in gas and electricity market prices. Less harsh winters have allowed countries to spend less gas reserves and maintain them at almost 100% in the case of Spain. Since the needs have been reduced, the demand and the price fall. It is also influenced by the effect of the boost that renewable energies have taken as the protagonists of electricity generation. During the last year, there were several days when the total electricity production was only with renewable energy, with particular prominence of wind and hydraulics. In particular, the greater amount of rain this year compared to the previous one is one of the factors that is most influencing the drop in prices.
The CNMC Household Panel has also noted a positive version of the energy crisis, such as greater consumer education.
Although 51.3% still do not know basic concepts of the energy bill, such as the difference between the regulated market, also called PVPC, or the free market, this is six percentage points less than a year ago. In the case of natural gas, the percentage of households that use it and know the difference between the liberalized and the regulated market (TUR) has increased by 16 percentage points in one year.
Regarding the power contracted by households, 18.8% admit that they do not know what power it has. It is the lowest data recorded in the series of this indicator since it was created in 2015, says the CNMC. 41.3% of households have a contracted power of between 4 and 6 kW, and 33%, between 0 and 3 kW.
The social benefit is already known to 78% of households compared to 50.1% in 2017 and four percentage points more than a year ago. Of these, 64.3% also know the requirements to benefit from it.
