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INPRIMATU
The gas limit in the Spanish State has reduced its electricity bill by 32% during the first six months
  • An average saving of EUR 209 per household, according to the study carried out by ESADE.
El Salto @ElSaltoDiario 2023ko otsailaren 03a

The other governments of the European Union have applauded it and contributed to Spain’s lower inflation in the euro area. However, some sectors have questioned the effectiveness of the exception in the Iberian Peninsula in reducing electricity bills. The opposition leader, Nuñez Feijoo, described it as "Iberian fraud", and there are still many who repeat this expression, although electricity prices in Spain and Portugal are much lower than in other European countries.

The Economic Policy Center of the Business School ESADE has published a study of the implications of this measure on the regulated electricity tariff (Small Consumer Selling Price (PVPC), responding directly to the wholesale market price. Research carried out by economists Manuel Hidalgo, Natalia Collado, Jorge Galindo and Ramón Mateo six months later with the effect name of the gas limit on prices, inflation and consumption contrasts the price of the last six months with a statistical model in a hypothetical world in which electricity is not limited.

The figures clearly show the effectiveness of the Iberian exception and its effects on inflation. Without this measure, the average electricity price on the regulated market would be 31.8% higher, according to ESADE calculations. In other words, approximately EUR 209 is saved per household. Considering that in Spain there are 10 million homes in the regulated rate (January 2022), almost €2.1 billion would be saved. To a lesser extent, some 9 million (August figure) could be saved EUR 1,880 million.

This price drop would affect inflation set last year. ESADE estimates that average inflation was 0.3 points lower. That is to say, instead of ending the year with the annual average of 8.4%, it would have ended with 8.7%, although since its implementation, without taking into account the months without electricity limit (before June), it would be 0.5.