What is account adjustment?
The current method for calculating electricity retail supply costs was approved by the Ministry of Energy, Tourism and the Digital Agenda. It is among the components of the voluntary price for small consumers (VPSC) and is designed to cover costs incurred by retailers to be able to finance tasks such as: Customer services, bill management, contractual procedures, etc.
The new method approved by the Ministry has been in force since 1 April 2014 (Royal Decree 216/2014). Therefore, we now have to adjust the period from 1 April 2014 to 31 December 2016.
Who is affected?
This only affects customers who had contracts for the Voluntary Price for Small Consumers (VPSC) between April 2014 and December 2016, including vulnerable consumers paying the subsidised rate.
If you were paying the regulated rate (VPSC) at any time from 1 April 2014 to 31 December 2016, IBERDROLA COMERCIALIZACIÓN DE ÚLTIMO RECURSO, S.A.U. will make an adjustment to collect the amounts due since the entry into force of the new value determined to cover retail supply costs.
How do you calculate it?
That's simple: the amount payable is the difference between the sum paid by the customer according to the old method in Royal Decree 216/2014 and the new method established in Royal Decree 469/2016, applying the values specified in Order ETU/1948/2016.
The old method
Retail supply costs were calculated applying a price of €4/kW per year to the customer's contracted power.
There are now two components to retail supply costs, one of which is fixed and the other variable. They are calculated like this:
Fixed retail supply cost: The price is €3.113/kw per year for the contracted power.
Variable retail supply costs: This is applied to the energy consumed each year.
Here is a table containing the prices.
Therefore, the result of this adjustment may be a charge or a reimbursement, depending on how much you consume.
When and how is the adjustment applied?
IBERDROLA COMERCIALIZACIÓN DE ÚLTIMO RECURSO, S.A.U. has been making these adjustments between July and September 2016, and you will be issued a single bill as follows:
If you are still a customer of IBERDROLA COMERCIALIZACIÓN DE ÚLTIMO RECURSO S.A.U: you will see it as an extra item in your bill when we start making the adjustments. You will notice this item in your bill: Retail supply cost adjustment.
If you are no longer an IBERDROLA COMERCIALIZACIÓN DE ÚLTIMO RECURSO S.A.U customer, you will receive a specific bill for this expense.
In both cases, you will receive a detailed explanation of this adjustment with the bill, as per the form in Royal Decree 469/2016.