Site icon becoration

The number of Spaniards switching electric companies in search of better prices is growing.

The CNMC Reports a 23.9% Increase in Provider Switches in 2024, as Self-Consumption and Electric Market Competition Continue to Grow

The National Commission on Markets and Competition (CNMC) has released its annual report on the behaviors of the electrical and natural gas supply in Spain for the year 2024. A clear trend is evident among its major findings: Spanish consumers are increasingly accustomed to switching their electric company to save on their bills.

Over 7 Million Consumers Changed Providers

According to the report, 7.2 million customers changed their electricity provider in 2024, which accounts for 23.9% of all consumers. Compared to the 5.9 million changes recorded in 2023, this marks a significant increase and showcases greater proactivity by citizens in seeking better rates.

This dynamic is partly due to increased competition: while Endesa, Iberdrola, and Naturgy remain the top three companies in terms of market share, new providers have managed to gain share by offering more flexible rates, time-differentiation models, and more transparent contracts. Lucera, with its plan for friends, is among the most popular.

Indexed or Free Rate: A Transforming Market

The shift from the PVPC (Voluntary Price for the Small Consumer) to the free market continues. In 2024, the number of consumers under the PVPC scheme dropped to 8.4 million (28.5%), reflecting an environment where free market offers are often more attractive.

Moreover, nearly half of all households now have contracts with variable prices that allow them to adapt their consumption to market signals. Among small and medium-sized enterprises (SMEs), 86% of consumption now occurs at variable prices, while in the industry that figure reaches 72%.

Rise of Self-Consumption: Up 48% in 2024

Another phenomenon gaining strength is that of energy self-consumption. The number of self-consumers grew by 48% compared to 2023, reaching 683,719 users who generated a total of 12,370 GWh, now accounting for 5% of national electric demand.

This growth has been particularly notable in community housing, public buildings, and industrial estates, where there’s a push for greater energy efficiency and cost reduction.

Electrical Consumption on the Rise

Regarding electricity demand, the report highlights a 3% growth in consumption in 2024, recovering to levels before the energy crisis. Both the domestic and industrial sectors saw increases surpassing 3%, while SMEs experienced a 2% rise.

This higher consumption, driven by the increase in electronic devices, digitalization, and the widespread use of air conditioning, has led consumers to explore new ways to save.

Complaints and Service Level

The CNMC’s report also includes data on the number of complaints. It reveals that industrial consumers and SMEs present a higher number of complaints per 100 supply points compared to households.

CNMC Recommendations

The regulatory body reminds consumers that:

– Fixed prices cannot be modified until the contract expires.
– Price revisions must be clearly communicated before renewal.
– Informed consent is mandatory for the acquisition of new clients.
– Commercial calls are not permitted without prior authorization.

Additionally, the CNMC recommends using tools like the offer comparator and “Understand your bill” to help consumers evaluate alternatives and better understand their current contract.

Referrer: Decoración 2.0, decoration news in Spanish

Exit mobile version