The Household Panel of the National Markets and Competition Commission (CNMC) yesterday put figures to what is a widespread sensation; The electricity expenditure of Spanish households has decreased. Specifically, Spaniards spent during the second quarter of 2023 (latest known data) 43.3 euros per month, 12.9% less than in the same quarter of the previous year.
Among the reasons behind this decline is the 6% drop in consumption. After more than two years of energy crisis with runaway electricity prices and continuous awareness campaigns for savings, these habits 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 reducing the bills of those who install them and also reducing consumption from the general network.
The weather evolution has been another of the factors that have mitigated the panic in gas and electricity market prices. Less harsh winters have allowed countries to spend fewer gas reserves and maintain them at almost 100% in the case of Spain. As needs are reduced, demand and price fall. The effect of the boost that renewable energies have taken as protagonists of electricity generation also influences. During the last year there were several days in which the total electricity production was carried out only with renewable energy with special prominence of wind and hydraulics. Specifically, 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 confirmed 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 free market, they are 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 regulated markets (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 they have. It is the lowest data recorded in the series of this indicator since it was created in 2015, says the CNMC. 41.3% of homes have a contracted power of between 4 and 6 kW, and 33% between 0 and 3 kW.
The social bonus is already known by 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.
