On 28 February, the National Competition Commission (CNMC) of Spain handed over to the Ministry of Energy a report on the electricity pricing reform for domestic consumers and small and medium enterprises. The new pricing model was planned to be effective on 1 April 2014 but was postponed to 1 June 2014.
The new pricing model will set the variable part of the electricity bill, about 45% of the total, in accordance with the average price on the wholesale market. According to the CNMC, this would result on average to a bill reduction of 4.3%. In addition, consumers equipped with meter will pay depending on the market price on a hourly basis.
The CNMC's report points out two main drawbacks: an information work should be done to the consumer; the new model will result in lower price stability. The Ministry of Energy plans to address this later drawback by requiring the electricity suppliers to provide with annual fixed price offers.