A big mortgage that comes from afar, which will take at least five years to pay off, and which all electricity consumers pay out every month. Electric customers pay a huge debt on every electricity bill the result of mismatches between the expenses and revenues of the electrical system, which has been fattening since the first two millennia. It’s a loan that customers originally owed directly to power companies and now pays to banks and mutual funds on every bill.
Next year’s electricity bill will include a payment of 2,310 million euros to cover this debt.As stated in the draft ministry resolution that the government plans to set electricity charges for the year 2023. The fees included in the electricity bill are used to finance energy policy costs such as compensation for regulated renewable energy sources, extra cost. peninsular regions or also accumulated debt.
Spanish electrical system It is still accumulating a debt of just over 10,000 million at the end of 2022—to add interest, According to estimates by the National Markets and Competition Commission (CNMC). The forecast is to finish next year by reducing this debt to around 7,900 million euros and, in principle, be able to pay it off in full by the end of 2027.
Since the years of Aznar and Zapatero
That debt, that mortgage, is the result of the amount consumers pay with their electricity bills for years not meeting all the accepted costs of the electrical system. The huge deficit, known as the tariff gap, got out of control and reached 28.7 billion euros. After 14 years of consecutive deficits dispersed in the last years of the Government of José MarÃa Aznar, and especially of José Luis RodrÃguez Zapatero, the drastic cuts in the electricity reform of Mariano Rajoy’s first Administrator meant that the system’s electricity was shut down from 2014. surpluses began to accumulate.
Successive surpluses between 2014 and 2018 allowed a total of 1,687.5 million euros to accumulate. A kind of ‘piggy bank’ light that has since been used by all governments to cover up the imbalances in the system and has practically gone. The current government has also ensured that it can use the 2021 surplus to inject to cover any potential imbalances this year.
at the first time consumers owed this accumulated debt to companies. energy companiesThey were the ones who took over the difference in their balance sheets for years and financed the difference between recognized revenue and costs. By 2011, this bankrupt billionaire was securitized and placed in financial markets andElectric companies gradually transferred their debt collection rights to mutual funds and banks.
The majority of the debt was allocated through market placements by the Electricity System Open Securitization Fund (FADE), but not only that. There were other specific types of placements as well: closing the 2005 gap, closing the 2007 settlement gap, closing the 2013 gap, the front gap… And although the payment was originally planned to be finished in 2026, new issuances for the Donation Liquidity to FADE is now one more year. extended.
Source: Informacion
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