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Date Published: 19/04/2022

ARCHIVED - Data confirms 2021 electricity bills were similar to 2018 prices in Spain

ARCHIVED ARTICLE

Spain was still the fifth most expensive country in the EU despite government tax measures

<span style='color:#780948'>ARCHIVED</span> - Data confirms 2021 electricity bills were similar to 2018 prices in Spain

Long before the war in Ukraine sent consumer costs spiralling, electricity in Spain had been marking a steady increase throughout last year to reach the highest ever price in 2021. Faced with mounting pressure, President Sánchez made a bold commitment to reducing energy costs to 2018 prices.

“We are working with a plan to reach a concrete commitment, and that is that at the end of 2021 the Spaniards look back and see what they have paid in the electricity bill a similar amount and similar to the one they paid in 2018. That is the objective and the commitment: that all citizens with an average consumption at the end of 2021 pay a similar amount and similar to the one they paid in 2018, logically with the CPI discounted,” he stated.

And against all odds, the latest data from Eurostat, the statistical office of the EC, which takes into account all Spanish households, shows that the President was true to his word.

According to Eurostat, the average home in Spain paid 0.2595 euros per kilowatt hour (kWh) in 2018 if the inflation rate between December 2018 and December 2021 is applied. And that amount is higher than 0.257 euros per kWh paid last year.

While it seems impossible given the soaring costs across the country, the electricity market has actually been very volatile rather than steadily rising; December was the highest month on record, but February’s prices were extremely low. Indeed, the government has pointed out that costs are still fluctuating by the hour.

The Spanish government also extended a series of tax cuts which have reduced bills substantially, as well as extending the social payment to millions of vulnerable households.

Even so, all of these measures failed to prevent Spain from having the fifth most expensive electric bills in the entire European Union, only behind Denmark, Germany, Belgium and Ireland.

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