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ARCHIVED - Electricity prices in Spain reach all time high
October was the most expensive month for electricity bills in history in Spain
It’s been a year of unpredictability for the market prices of many goods and services, but October has departed and left in its wake the most expensive electricity prices in history. The 10th month of the year saw electric bills rise by 16% compared with September, as the cost of energy in the wholesale market remained consistently above 200 euros per megawatt hour (MWh).
On average, a monthly electricity bill in Spain cost more than 85 euros in October, 12 euros more than last month and a whopping 67% higher than the same month last year. Not even the government’s tax measures have been able to control the extortionate cost of electricity, which averaged at 212.29 euros /MWh at the end of October – 56.15 euros more than in September, making it the most expensive month ever recorded.
Despite the soaring costs, the operator of electricity system Red Electrica assured on Saturday October 30 that “there is no objective indication” that there will be a supply shortage, as other European countries have been hinting. Responding to the Austrian government’s decision to prepare for an electrical blackout, Red Electrica has insisted that Spain “has a high level of electrical coverage” and has double the amount of power required at any one time.
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