Spain is one of the countries in Europe with the highest electricity prices. The latest numbers reach the all-time record of 140 euros per megawatt-hour!
The scorching heat in Spain is responsible for the significant increase in the price of electricity. In addition to this heat wave, the soaring prices are also a consequence of the increase in the price of natural gas on the international market and the price of CO2 emissions. According to FACUA, the organization of consumers, the month of August ends with the most expensive electricity bill of all-time: 93.10€ for an average user.
The Spanish government works with the European Commission to find solutions. FACUA also asks for a Congressional investigation into electricity rates in order to clarify the causes of the record rises of the last couple of weeks.
Moreover, the government recently announced that they expect an additional increase of 25% in the consumer’s bill this year. This rise obviously leads to economic but also social consequences. Indeed, 7.6% of Spanish people suffer from fuel poverty. The increase of prices is expected to stay high until the first quarter of 2022.
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