The company, which will focus on the marketing of electricity and solar panels,
The energy company Holaluz has decided to stop putting gas tariffs on the free market among Spanish customers. The company made this decision in view of the “extraordinary and volatile situation” in the energy market, with skyrocketing gas prices and the inability to offer its users a “sustainable” tariff this winter. The decision means that approximately 70,000 Holaluz customers it had in the gas market will be directly covered by the Regulated Tariff (TUR), which is currently restricted by the government.
After several months of skyrocketing gas prices, Holaluz estimates that the end of gas sales will have a negative effect on the pre-tax result (Ebitda) of approximately 3.9 million euros. For 2023, the impact of the closing of gas sales would have a negative impact of six million euros compared to the targets published in April 2022.
Holaluz’s gas sales began in November 2015 as an additional service for its 100% green electricity customers and with a commitment to close this business when there is a clear sustainable alternative. But the complexity of the market forces him to leave this company.
Holaluz will now focus exclusively on the sale of electricity from 100% renewable sources and the installation of solar panels for its own use in what is known as ‘The Rooftop Revolution’. Since mid-2020, this company has succeeded in converting more than 7,023 roofs into 100% green electricity. In turn, the company has connected 386,540 customers to green energy, with data as of March 31.
The company considers this a “brave decision” that brings them closer to their original goal and positions them as a “top player” in the solar field. In addition, it greatly accelerates the impact targets set in its ESG policy.
Exactly this Saturday, October started with the promised reduction in VAT (Value Added Tax) from 21% to 5% on the natural gas bill. With this measure, the new increase in the gas price, which has even risen by an average of 10%, can be absorbed. Although with the new reduced VAT, the bill will fall by 7.2% compared to the data of the last revision, last July.
Users will benefit from this measure, although the increase in raw materials could eat up a large part of the discount that the VAT reduction brings on each voucher. With winter in mind, when heating or hot water use is higher than the rest of the year, many consumers wonder what the best possible rate is.
There are also two variables on the gas market: the regulated tariff (called TUR) and the multiple free tariffs. The regulated company has been limited in the increases it is expected to make since November last year. Specifically, the increase to 4.3% was achieved, compared to more than 130% that could have increased if the aftermath of the gas market had followed. In the spring of the revisions of April 1 and July 1, the Board decided to maintain the limit of 15% on the maximum increase in raw material costs in the TUR calculation formula, with the intention of limiting its effect on the final settlement.
If this rate is compared to one of the free market rates, the regulated rate is still the most competitive, something that doesn’t always happen with the regulated electricity rate (PVPC), which has more ups and downs.
However, the majority of Spanish consumers opt for free gas market tariffs: 80.1% were on the free market until March 2022 compared to 19.9% on the regulated market, according to the National Commission of Markets and Competition (CNMC) . In other words, of the nearly 8 million natural gas users, about 6.5 million have a free tariff and 1.5 million in the TUR.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
