- The company is once again strengthening its commitment to taking the customer into account by offering them solutions with competitive and stable prices in response to the complexity and daily fluctuations of the regulated market.
- Endesa is lowering the prices for its deregulated tariffs in the residential sector to improve on the cost in regulated market invoices (except those customers benefitting from the Social Bonus) and mitigate the effect of increases in the price of electricity
- The company has launched an advertising campaign promoting discounts until the end of July. Any customers interested can ask for assessment at offices and service points, by telephone or on digital channels.
- During the promotion period, Endesa offers prices on the unregulated market that are cheaper than the prices for energy on any bill in the last year corresponding to regulated tariffs (except for invoices that include the Social Bonus). For more information, customers should check on their usual service channels.
In order to continue to offer savings solutions to consumers, Endesa has improved the conditions for its unregulated market tariffs to offer better prices. The company continues to take the customer into account by offering competitive and stable prices to combat uncertainty and the impact on the bills of residential consumers resulting from the entry into force of the temporary measures to be applied as a result of the so-called "Iberian exception".
To achieve this, Endesa has lowered the prices for the deregulated market tariffs with a campaign offering a 20% discount on the energy term (electricity consumed) for residential customers who contract on the deregulated market in search of savings, peace of mind and not being exposed to the fluctuations of the daily electricity market.
Since deregulation of the sector began, Endesa has opted to offer innovative savings solutions tailored to the needs of customers to help them save. Now, more than ever, the company's commercial strategy is based on protecting consumers with stable tariffs on the deregulated market, with no minimum duration and with competitive prices to combat the unprecedented increase in the price of electricity on the daily market. In fact, with this discount on deregulated market tariffs, energy prices are an improvement in conditions compared to any regulated market bill (with the exception of the Social Bonus) in the last 12 months1 and makes Endesa's deregulated tariffs very competitive, currently placing it in first position in the CNMC's energy offer comparer.
To benefit from a 20% discount for 1 year and 10% indefinitely from the second year onwards, those interested should contract the Tempo Happy, One Luz or Libre Tariff in one of the commercial offices or service points, by telephone or on one of the digital channels. The promotion is currently in force and will be available until 28 July.
Differences between the deregulated and the regulated markets
The deregulated market is the one that allows retailers to apply discounts, combine supplies (electricity + gas) and essentially provide a much more stable electricity bill, since customers who contract with Endesa Energía have fixed energy prices for 12 months, in contrast to the hourly variation for pool prices. There are tariffs that offer a fixed fee where you pay the same every month, with a single price so you do not depend on time bands, or others that adapt to your schedule, habits and lifestyles.
However, on the regulated market the price of electricity for the end consumer is subject to constant fluctuations in the cost of energy on the wholesale market. In other words, the price that changes hour by hour and day by day according to supply-demand between those who produce energy (the generating company) and those who sell it to the consumer (the retailer). What is more, it can only be requested by consumers with a contracted power that does not exceed 10 kW and can only be offered by reference retailers.
Prices on the daily electricity market broke historical records driven by an unprecedented increase in the price of gas, which had already been high due to growing demand from Asia and this was further triggered by the conflict in Ukraine, as well as by an increase in the cost of CO2 emission rights, but to a lesser extent In figures, the cost of electricity on the daily electricity market increased by 300% during the first 5 months of the year compared with the same period in the previous year, according to data analysed by the company.
This resulted in the Government of Spain promoting the so-called "Iberian exception" to intervene for a year in the price of gas used to generate electricity as a temporary mechanism to adjust production costs on the wholesale market. The difference between the actual cost of gas and the limit set by these measures needs to be compensated to the generation installations affected, and this is financed by consumers on the regulated market and deregulated market, in accordance with the conditions established by regulation. As an example, this means that the Voluntary Price for the Small Consumer or PVPC (regulated market) will incorporate the reduction in the price of electricity that is expected to result from this measure, and also an additional surcharge to compensate for the cap on gas prices for one year and starting from 15 June.
Faced with this situation, Endesa maintained its commitment to offering savings solutions on the deregulated market, with prices not subject to the pool's daily variations. These will be maintained for one year, and will have no minimum duration. And to make its deregulated market tariffs more attractive, it lowered the price of the energy term by 20% for one year for most residential customers.
With these discounts, Endesa also aims to help its customers on the deregulated market mitigate the impact of possible new charges in their bills associated with financing the cap on gas prices.
In the same way, through its last resort retailer, the Endesa Group will continue to support vulnerable customers and to enable them to benefit from the Social Bonus, an aid designed for pensioners, officially-registered large families, people in vulnerable situations, those affected by the economic crisis as a result of COVID-19 and beneficiaries of the minimum vital income, and for which it is necessary to be a client of a retailer on the regulated market.
Endesa currently has 5.8 million electricity customers in the deregulated market in Spain (Endesa Energía) and another 4.1 million customers in the regulated market (through the reference retailer Energía XXI). This gives a total customer base for Endesa's retailers of almost 10 million.
About Endesa
Endesa is the largest electricity company in Spain and the second largest in Portugal. The company is also the second largest gas operator in Spain. Endesa operates an end-to-end generation, distribution and marketing business. Through Endesa X it also offers value-added services aimed at the electrification of energy usage in homes, companies, industries and Public Administrations. Endesa is firmly committed to the United Nations SDGs and strongly supports the development of renewable energies through Enel Green Power España, the digitalisation of grids through e-distribución and Corporate Social Responsibility (CSR). The Endesa Foundation is also active in CSR. Our workforce numbers around 9,260 employees. Endesa is a division of Enel, Europe’s largest electricity group.