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ARCHIVED - Electricity prices in Spain finally set to drop this week
The price of electricity in Spain will decrease by 22 euros on Friday September 17
The soaring wholesale price of electricity in Spain is at last expected to slow down on Friday September 17 after breaking several daily records already this week. The cost will drop to 166.29 euros per megawatt hour (MWh), a decrease of 22 euros in a single day, after setting a new historical high this Thursday with 188 euros.
Consumers were already breathing a sigh of relief after the government announced a series of measures to cushion the impact of the rise in electricity prices, tax breaks which have irritated the power companies no end and have even led to the nuclear sector threatening to close its reactors.
Nevertheless, the cost of electricity today is three times what it was just a year ago.
By time slots, the prices for tomorrow range between 188.17 euros between the hours of 9am and 10am, and 140.66 euros from 2pm to 6pm.
The skyrocketing prices, which are affecting all of Europe, have been caused by the international increase in the cost of gas along with an increase in the price of CO2 emission rights. This Friday, electricity in Spain will actually be a lot cheaper than many other countries, with the UK coming in at a staggering 173.73 pounds (204 euros) per MWh. In contrast, Germany will be paying 156.96 euros and France 157.85 euros.
Those looking for an alternative energy supplier can get a quote from Energy Nordic, a company offering sustainable energy at affordable prices, and are encouraged to consider installing solar panels on their home to reduce energy costs.
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