THE EDP Comercial will increase electricity prices for residential customers from May. The increase will be, on average, 3%, confirmed an official source of EDP Comercial to Up-to-the-minute news.
“EDP Comercial will make a updated electricity rates for your current residential customers, in line with the recent announcement of the regulated market price adjustment. He is update will come into effect from May and represents an average variation of 3%“, can we read in the response sent to Up-to-the-minute news.
The electricity company justifies that this increase is due to the fact that the current international context has intensified the instability of the market, having caused a “increase in the purchase price of electricity, which is currently around three times higher than in the last quarter of last year“.
“Over the past few years, EDP Comercial has sought to provide stability to its customers, only updating rates at the beginning of each year, even during periods of fluctuating prices in wholesale markets. In 2021, the company has decided to keep prices unchanged, although the energy value has reached record highs in the markets”, adds EDP.
This announcement comes after the Energy Services Regulatory Authority (ERSE) said that electricity prices in the regulated market would increase by five euros per MWh, from April 1represents an increase of approximately 3% in the average monthly electricity bill
The wholesale electricity and natural gas markets were already going through an energy crisis, with historically high values, the rise in prices having exploded with the war in Ukraine, reaching values ten times higher than those recorded at the start of 2021.
Also Galp, supplier of electricity and natural gas on the free marketwill increase tariffs for domestic customers from April 15, with monthly increases of up to three euros for natural gas, and between one and two euros for electricity, the official source confirmed on Monday.
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