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prices could rise even more



prices could rise even more

European leaders met last Thursday to discuss rising energy prices in a debate that focused not on diesel and gasoline prices, but on rising electricity prices. At the moment, there is no agreement to promote joint European solutions. Each country will have to continue to take action at the national level.

National measures, which are still not very clear, and the Minister of the Environment Matos Fernandez has already guaranteed that “given the price of light that is in sight, there is no need to reduce the VAT.”
In fact, the Portuguese government and the Energy Services Regulatory Authority (ERSE) managed to turn off the lights the following year. In fact, ERSE is talking about an increase of 0.2% in January 2022, but this increase refers to “the average price for 2021, which includes an upward revision of the electricity tariff in July and October 2021”.

However, if the comparison is only made with invoices from October to December 2021, the ERSE already notes a decrease of -3.4% from prices in effect at the end of 2021.

Good news for the 993,000 families still in the regulated market (20% of consumers, 5% of consumption). But those who will benefit even more are free-market consumers who can expect to see “an average decline of about -35% in the final bill.”

What’s more: the government itself has announced some price reduction measures, such as eliminating additional production costs under the Special Regime for Renewable Energy (PRE) and eliminating additional costs under a contract for the purchase of energy (CAE) Pego’s coal-fired power plant.

The ERSE proposal for its president is an “oxygen cylinder”. According to Pedro Verdello, “we have a situational problem with prices on the wholesale electricity and natural gas market. The electricity tariff proposal is an oxygen bottle to solve the problem starting in January, but we have to reach it, ”he said in parliament.

Ricardo Evangelista, Senior Analyst and CEO of ActivTrades Europe SA, has no doubts: “In the context of the trend towards continued growth in energy prices in the wholesale markets, in my opinion, it is positive for consumers that they have already been identified and supported even in the event of a new upturn in the markets, ”he says to Nascer do SOL.

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Enrique Tome, an analyst with brokerage company XTB, recalls that Pedro Verdello said that “the rise in energy prices can be resolved in the spring and, in fact, such a possibility exists.” Therefore, according to the analyst, “a seasonal peak is expected this quarter as temperatures begin to drop. However, as spring approaches, prices are expected to begin to correct downward. “

The Minister of the Environment spoke about this again on Friday and assured: “Those who link the energy crisis to the climate are lying. Fuel prices are rising because oil is expensive. And if electricity in Portugal does not grow, despite the fact that gas is so expensive, it is because 60% is from renewable sources, ”he said. And he added: “If we were much further ahead, [na independência dos combustíveis fósseis], the energy crisis will be much less tangible. “

European position

But the truth is that rising electricity and natural gas prices are not only affecting Portugal but also a common problem in Europe. The upward trend has already prompted the European Commission to propose a range of measures, such as vouchers, that can help the most disadvantaged.

A request that has been processed by several countries so far. A community source told Lusa that Portugal is one of six European Union member states that have already offered support measures to tackle the energy crisis following the European Commission’s recommendations to curb price increases.

This Wednesday, the President of the European Commission again spoke on this topic and recalled that the European Union is very dependent on gas imports, so she called on the 27 member countries to “really work together.”

“Let me start with two simple facts. First fact: gas prices are cyclical and are fixed by world markets. But with gas prices rising, many families are struggling to pay their bills, and businesses are at risk of shutting down. Second fact: solar energy is now ten times cheaper to produce than it was 10 years ago, and even wind power – which by definition is more volatile – is now 50% cheaper than it was ten years ago, ”said Ursula von der Layen.

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But are the measures proposed by the European Commission necessary? “It seems to me that any intervention that helps mitigate the impact of rising energy prices will be welcomed for those who, due to the less favorable socio-economic situation, would feel it more,” – Ricardo Evangelista defends.
Enrique Tome is confident that these initiatives are “important and can help mitigate the rise in commodity prices.” But he leaves a warning: “However, its impact could be limited if prices continue to rise and businesses need more aggressive intervention.”

An example of one country that has already started to work is France, whose government has adopted a set of measures to protect consumers and businesses. But this “shield” implies a loss of tax revenue. When asked if this measure can be taken by the Portuguese government, the XTB analyst replies that “they can be adapted to Portuguese realities if the government is willing to give up some of the tax revenues.” And he adds: “The tax burden on fuel remains high and the truth is that the government still has reserves to deal with the recent rise in raw material prices.”

portuguese position

Literally this week, based on data from Eurostat, ERSE published prices for electricity and natural gas for the first half of the year. Portugal ranks eighth in terms of the cost of light in the countries of the European Union. Overall, Portugal saw a decline in electricity prices in the domestic (-1.7%) and non-residential (-1.8%) segments compared to the same period last year. However, it is important to keep in mind that the rise in electricity prices had not yet been recorded at the time when the price records came later.

In terms of gas, the country ranks seventh on the list. But there may be changes. “The rise in energy prices is being felt throughout Europe, so it is unlikely that this factor, the rise in wholesale prices, will by itself contribute to a change in this ranking,” explains Ricardo Evangelista.
In turn, Enrique Tome recalls that “if inflationary pressures persist, this could lead to an adjustment in electricity prices due to increased reserves of raw materials.” On the other hand, he understands that “the state can act to limit and mitigate this increase if it decides to take a more interventionist stance.”

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And this winter?

While the governments of different countries decide what can and cannot be done, what can happen this winter, when consumption is usually higher?

“Right now, the outlook points to a continued rise in natural gas prices, mainly due to the position of Russia, the main supplier of Europe, which is trying to gain political and geostrategic advantages by reducing supplies,” notes Ricardo Evangelista. The analyst explains that “the rise in the price of natural gas, which is also a consequence of the efforts that many countries have made to use it as a substitute for other, more polluting energy sources, has a side effect on the cost of fuels such as oil and coal, which are the reason has also become more expensive, as this more ecological position is being reversed. ” Therefore, he concludes: “With no end in sight to this dynamic, it is likely that the trend towards high energy costs will continue.”

This opinion is shared by Enrique Tome when he reminds that “the latest forecasts of experts indicate a harsh winter.” Thus, if these forecasts come true, “the use of raw materials should increase, and excess demand could put further pressure on prices for both natural gas and oil.” In other words: “In seasonal conditions, this time of year tends to support natural gas prices, and therefore there is a possibility that prices will rise even more.”

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Tesla announces another recall of 80,000 vehicles, and some even have to be recalled



Imagem Tesla recall

Tesla cars suffered this year a large number of requests for “collection”better known as the process revoke🇧🇷 Trouble again and 80,000 vehicles in China will be recalled. If many of recalls was an easy decision as it was over the air (OTA) it really obliges the owners to take the car to the workshop.

In fact, this year, many millions of Tesla electric vehicles received revoke for fixes.

Many of the reviews are related to issues resolved via OTA.

Whenever there is a safety issue, the NHTSA must issue a "safety recall", even if the car manufacturer does not have to physically recall any vehicles, leading to some confusion.

Once again last month, Tesla's "1 Million Vehicles" collection of vehicles generated a lot of news as the impact on drivers was almost negligible considering the update only changed via OTA the software that runs the car system. to work with windows.

These cases have prompted Tesla CEO Elon Musk to complain about the term "recall = collection" and how it is being used in the media against Tesla. Today The American company again announced new collections in China about 80,000 cars.

13,000 Tesla electric vehicles have seat belt problems

The recall includes 67,698 imported Model S and Model X vehicles with a battery-related software issue, according to Chinese authorities. Again, the fix is ​​a simple software update. Nonetheless, this time there is also a physical collection due to the problem with the seat belt in approximately 13,000 Model 3 vehicles: 2,736 imported and 10,127 made in China.

over 20 recalls there were many collections in 2022. However, Tesla is not the only automaker to be hit by major recalls this year. OUR Ford also just confirmed that it is recalling another half a million vehicles. due to fire hazards, and many car manufacturers have also recalled millions of vehicles this year.

In any case, the fact that the vast majority of calls from electric brand a quick fix with over-the-air (OTA) software updates — rather than taking cars back to the dealership like other car manufacturers — shows that Tesla's level of connectivity to its cars is a huge advantage in the industry.

The software update system (OTA) allows the buyer to fix many problems easily and conveniently, and for Tesla itself means big money savings.

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Lidl wants to dominate the fast-charging market for electric vehicles at affordable prices



Estação de carregamento, no Lidl, aberta 24 horas por dia

One of the EU’s goals for electric vehicles is to guarantee charging points so that tram drivers don’t have to worry about being on the road when they travel. To meet this need and dominate this market, Lidl intends to offer affordable prices.

We may soon see this initiative in more supermarkets.

Despite being a supermarket chain, Lidl has been guaranteeing electric vehicle charging stations in its stores for some time. However, a new journey has now begun, the launch of the first ultra-fast charging station, which has the distinction of guaranteeing a price well below what can be found on the market.

With this new equipment, in addition to the aesthetic aspects, Lidl takes on technical and cost commitments, guaranteeing the best on the market. After all, she not only placed the charger in her supermarkets, but also created, in turn, a space with protection for vehicles, users and chargers, in an area open 24/7 (i.e. 24 hours a day, 7 days in Week). . . .

This provides better visibility of the infrastructure and reduces the risk of internal combustion engine vehicles occupying space reserved for electric vehicles.

Lidl bets on affordable charging points

The first station will be installed in a Lidl supermarket near the French city of Lyon. The space is equipped with five charging points ranging from 22 to 360 kW. Thus, each client will be able to choose the one that best suits his needs.

For example, a 22 kW charger has a competitive cost of 25 cents per kWh. When we move to more powerful stations of 90, 180 or 360 kW, the price becomes 40 cents higher per kWh.

The strategy adopted by Lidl in some of its stores is already rolling out to other countries, such as Germany, where the supermarket chain is installing its first fast-charging stations, with 150kW stations priced at 48 cents per kWh.

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European Stock Markets Fall, Interest Rates Rise, Oil Rebounds – Markets in a Minute



Europe is turning green.  Oil and gold down.  Percentage Increases - Markets Per Minute

Euribor climbs three and six months to new highs in almost 14 years

Euribor rates rose today to new highs since early 2009 at three and six months and fell at 12 months.

The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose today to 2.374%, plus 0.006 points, the highest since January 2009.

The six-month average Euribor rose from 1.596% in September to 1.997% in October.

The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also rose today, setting a new high since February 2009 at 1.922% plus 0.014 points.

The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).

The three-month average Euribor rose from 1.011% in September to 1.428% in October.

On the other hand, over a 12-month period, Euribor fell today, settling at 2.860%, down 0.019 points from Thursday, after rising to a new high since January 2009 of 2.879% on Thursday.

After rising to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The average Euribor rate for 12 months increased from 2.233% in September to 2.629% in October.

Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) admitted that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the start of the Invasion of Ukraine on February 24.

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On October 27, to curb inflation, the ECB raised three key interest rates by 75 basis points, the third consecutive increase this year, after raising three interest rates by 50 basis points on July 21. growth after 11 years, and on September 8 by 75 basis points.

Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.

Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor is set on the basis of the average rate at which a group of 57 Eurozone banks are willing to lend money to each other in the interbank market.


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