The year 2022 begins with increases in regulated gas rates, highway tolls and stamps, with the price of electricity runaway in the wholesale market and also with the increase in the registration tax, which will make a large part more expensive. new vehicles.
Regarding the price of housing, the real estate market has been stressed in 2021 and from the sector they point out that it has become more expensive between 3 and 4%. Its evolution in 2022 will remain in expectation of the Housing Law, which generates skepticism among experts, considering that instead of controlling them, it could trigger them.
Fuels start the year far from the highs at the end of November after five weeks down, despite ending 2021 with an increase of 25% in the case of gasoline and 27% in the case of diesel, while rates airport facilities will remain frozen and no major increases in the Euribor are expected.
The variations occur in a context of a 2% increase in the salary of civil servants and a 2.5% in pensions, as well as there will also be a 2% increase in Iprem, up to 579.02 euros per month, and a increase in the quotas of the self-employed.
The minimum wage will be set at 965 euros and the CPI closed 2021 with an increase of 6.7%, its highest rate since 1992.
The price of electricity remains high
In the case of electricity, the futures markets suggest that the wholesale price of electricity (‘pool’), which directly impacts the receipt of households covered by the regulated tariff (PVPC), will continue at the start of 2022 above 300 euros per megawatt hour (MWh).
Regarding the fixed part of the electricity bill, the charges -which include, among others, the premiums for renewables or the amortization of the debt of the electricity system-, established by the Government, will register a cut of more than 30% as of January compared to the beginning of 2021, although lower than the 96% drop that was applied in the second half of the year due to the upward spiral in the pool. Meanwhile, the tolls -with which the networks are paid-, set by the National Markets and Competition Commission (CNMC), will register an average drop of 4.6%.
However, the electricity tax cuts approved in the second half of this year are extended, such as VAT from 21% to 10% and the special electricity tax from 5.1% to 0.5% – up to April 30- or the elimination of the 7% generation tax -until March 31-.
With regard to natural gas, regulated rates rise by at least 5.48% as of today, January 1, 2022, for those consumers covered by the Last Resort Rate (TUR), following the measures adopted by the Government to limit the impact of the increase in the cost of raw materials, which would have meant increasing the annual bill by more than 83%.
Specifically, TUR 1, for annual consumption under 5,000 kilowatt hours (kWh), the annual bill will rise 5.48%, while without the limitation it would have increased by 83.62%. Likewise, in TUR 2, for annual consumption between 5,000 kWh and 15,000 kWh, the annual bill will rise 6.78%, below the 103 percent that would have grown without the 15% limit.
Meanwhile, fuels start 2022 far from the highs at the end of November, after five weeks down, but with an increase throughout 2021 of 25% in the case of gasoline and 27% in the case of diesel, according to data from the EU Oil Bulletin.
At the expense of housing law
The real estate market will be pending this year of the Housing Law, which will return to the Council of Ministers in 2022. Its approval, after passing the parliamentary process, is expected in the second semester.
Real estate experts believe that the Executive’s measures will have the opposite effect to that desired and, instead of controlling housing prices, especially rents, they will skyrocket. In fact, new and used housing closes 2021 4.3% more expensive, according to Tinsa, while Idealista points out that used housing has risen 2.8% in the last 12 months.
Added to this is the rising cost of materials, which is causing increases in the price of new constructions, as well as delays in deliveries.
1.97% rise in tolls
As of today, January 1, the current rates for state-dependent highways will be increased by 1.97% to adjust them to the CPI, as reported by the Ministry of Transport.
Exceptionally, four highways are subject to an additional rate increase, the AP-7 Alicante-Cartagena (2.99%); the AP-9 Ferrol-Portugal (2.99%); the AP-46 Alto de las Pedrizas-Málaga (2.99%) and the AP-6 Villalba-Adanero (2.84%).
Freezing of airport charges until 2026
The Government has confirmed that airport charges will be frozen in 2022, which is why they remain at pre-pandemic levels in order to continue relaunching the economic recovery and, specifically, in the tourism sector.
The Community of Madrid has reduced the price of the transport pass for users over 65, which will go from 6.3 euros to 3.3 euros in 2022, and the new annual rate will be 33 euros.
Instead, the Board of Directors of the Metropolitan Transport Authority (ATM) agreed on December 22 to maintain public transport rates in the Barcelona area for 2022.
Cars get more expensive
The purchase of a car will be accompanied by an increase of 12 euros in the monthly letter for the driver from January 1 on the occasion of the entry into force of the new registration tax, they point out from the sector.
The entry into force of the WLTP emissions regulations will affect half of the current supply of cars for sale, as well as the lack of ‘stock’ with a “live” demand that causes a rise in prices, in parallel to the falling discounts. It is estimated that 40% of new vehicles will see their price increase between 200 and 1,000 euros depending on the model and emissions.
Stamps up 7%
Correos has raised the price of the stamps needed to send standardized letters and postcards of up to twenty grams in weight to national destinations by 7% by 2022.
The rate will now be 0.75 euros, which represents an increase of five cents, a price that will be applied from this Saturday, January 1.
The Euribor, the index to which most Spanish mortgages are referenced, points out that it will close December around -0.502%, which represents a notable decrease compared to the -0.487% registered in November.
For the first months of 2022, iAhorro considers that stability could continue to be “the dominant note”, since the European Central Bank (ECB) has no intention of raising interest rates in the short term. The figures for the are expected to range between -0.3 and -0.5%.
Increase in the quota of self-employed
The contributions paid by the self-employed to Social Security will rise approximately between 5 and 21 euros per month from today, depending on the base for which they contribute, after the increase in the maximum and minimum bases contemplated in the State Budget Law for 2022, as well as the highest rates of contribution that the group must assume.
The minimum contribution base for the self-employed will become 960.60 euros per month in 2022, while the maximum base will increase from 4,070.10 euros from now to 4,139.4 euros.