Filed tonight at Parliament the legislative provision that regulates the electricity market for 2024 and establishes the special tariff that will apply to all suppliers and will be adjusted every month based on a fluctuation mechanism that will be established by the Ministry of Environment and Energy.

This is the framework for the protection of electricity consumers in the coming year, since the emergency measures introduced in the summer of 2022 expire on December 31, due to energy crisisfor the suspension of the readjustment clause and announcement of the retail prices valid each month until the 20th of the previous month.

As pointed out by MINISTRY OFthe Special Tariff is established “in order to address the price risks from the reintroduction of the adjustment clause in the tariffs, thereby enhancing competition between electricity suppliers, with the aim of lowering prices”.

The basic provisions of the provision submitted in a bill of the Ministry of Development provide for the following:

-In the Special Invoice all consumers will be transferred with the exception of those with fixed price contracts and those who choose to be subject to another tariff offered by the supplier.

-The suppliers will have a Special Electricity Supply Tariff for each category of Low Voltage customers. By December 1, 2023, suppliers must inform their customers of the contractual and tariff terms of the Electricity supply products that will apply from January 1, 2024.

– THE final value of the current in the context of the Special Invoicing will be announced by the suppliers by the first day of each month, and will result from the sum of the Basic Supply Price and the Variation Mechanism. The method of calculating the variation mechanism and the coefficients of the Special Tariff, the definitions of the variable coefficients of the variation mechanism, the time intervals for changing the coefficients and the Basic Supply Price, the way of marking and imprinting on the Consumption Accounts will be determined by a ministerial decision.

– All invoices will be sent to RAAE and will be published on its website for consumers to compare by the 5th of each month.

-The fixed ceiling of 5 euros per month remains, as well as the possibility to change supplier or supply invoice at any time without compensation of the supplier due to the early departure of the Customer, except in the case of termination of a fixed price contract for a certain period.

The new framework will apply from 1 January 2024 to 31 December 2024.