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ARCHIVED - Price of electricity in Spain has risen 24 per cent since start of war in Ukraine
Most people will not feel the benefit of the government’s new measures on their energy bills
The price of electricity on the wholesale market in Spain has increased this Wednesday for the third consecutive day, by about 3%, to reach 255.81 euros per Megawatt hour (MWh), according to data from the Iberian Electricity Market Operator (OMIE).
With this latest rise, the price of electricity is five times the amount it was just a year ago (53.53 euros/MWh), and is 24% higher than on 24 February, when the war in Ukraine began.
Yesterday, the Spanish government voted to pass a series of measures aimed at cutting the cost of living, including a reduction in petrol prices of 20 cents/litre and a 2% for increases in rental prices, though only by landlords who own ten or more properties.
In terms of energy prices, they have placed a cap of 67 euros/MWh for new and renewed contracts with electricity companies, but this will not apply for anyone who has a standing contract with their energy company, and the cost per Megawatt hour will remain as high as ever.
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