Naturgy, the third Spanish electricity company in terms of number of customers, behind Endesa and Iberdrola, is freezing electricity tariffs at the levels they were before the price hikes. This is to prevent users from suffering the uncontrolled increases the market is experiencing. To this end, from 15 September, it is offering to apply a cap of 60 euros per megawatt hour to all customers currently on regulated tariffs. Beyond this price – the one before the historic price hikes of recent months – the company will assume the increases.
Customers will thus be “shielded”. The offer will apply for two years. The proposal is aimed at the eleven million customers who are currently on regulated tariffs (half of all electricity customers in Spain) when energy prices on the wholesale market are 100 euros higher.
“Our goal is that during the next 24 months – customers – pay the cost of energy in their bill at the same level as the wholesale market price they had before the escalation, i.e. 60 euros per megawatt hour,” they say at Naturgy. According to the group, the current situation now requires social commitment and leadership.