mechanism has influence in the formation of the market price of electricity in
the MIBEL wholesale reference system until 31 May 2023.
What is MIBEL adjustment?
This exceptional and temporary mechanism makes it possible to set a maximum price for natural gas used in the production of electricity in the Iberian market, in order to avoid an excessive increase in electricity prices.
Will all consumers have to pay for this mechanism?
Under current legislation, suppliers are allowed to charge consumers for this adjustment, but they also can bear these costs themselves. Furthermore, consumers should analyse their specific situation and find out which supplier has the best offer, including the one on the regulated market.
However, if you are planning a change of supplier, please have a look on DECO's tips on this subject.
Suppliers must include the net benefit resulting from the application of this adjustment on the bills sent to consumers, which may be different from consumer to consumer, since the amount charged will depend on several factors.
“I was not warned that this mechanism would be applied. Do I still have to pay it?”
The law does not establish that the consumer has to be warned in advance that he will have to pay this additional cost, so DECO suggests that you contact your supplier directly and ask them whether or not they intend to apply the mechanism and ask them when this cost will be charged on your bill.
For how long will this mechanism be applied?
The MIBEL adjustment may be applied until 31 May 2023. DECO calls for the creation of a mechanism that effectively protects the consumer’s rights, for example, a brake on the price of gas for electricity production.
Even so, DECO recommended that the Government must take steps to present a legal scheme requiring suppliers to explain to consumers, in an accessible and simple way, the application of this mechanism, as well as to establish in law the obligation to give prior notice whenever a supplier applies the MIBEL-related cost on the next bill.
If you have not previously been informed of this change or if the net benefit resulting from the application of this adjustment has not been mentioned on your bill, please contact DECO's Consumer Helpdesk on WhatsApp (+351 966 449 110), or send an email to firstname.lastname@example.org or call +351 213 710 200.
Iberian Electricity Market
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