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ARCHIVED - Cup of coffee in Spain costs 10 cents more due to electricity prices
Soaring energy costs in Spain have had a knock-on effect on many products
The price of electricity reached its highest rate of the year on Monday January 17 at a wallet-busting 245 euros per megawatt hour, and the skyrocketing costs are pushing up the price of everything from petrol and toys to wheat, sugar and even coffee.
The hospitality trade is one of the industries that has been hit hardest by the coronavirus pandemic, and now café owners are facing a new challenge as the price of coffee has doubled in the last year. The 102% increase has forced many establishments to pass this cost onto their customers and, as of January 1, a cup of coffee sets consumers back an average of 1.50 euros; that’s 10 cents more than last year.
Wholesale electricity prices went through the roof in 2021 thanks to increasing CO2 emission charges and soaring natural gas costs, so much so that energy costs in Spain, along with the UK, France and Germany, quadrupled.
After a record-breaking Monday, electricity costs eased off by 8.9% on Tuesday to 222.73 euros per megawatt hour. In the first twenty days of January, the daily price of the wholesale market dropped by 19.27% on average compared to December, but it’s still an increase of 221% compared to a year ago.
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