Spain paid an average of 88.47 euros/megawatt hour on Monday, close to the highest price of the year during the winter storm Filomena. With momentary peaks of up to 95 euros per megawatt hour. The same price was paid in Portugal – which is part of the so-called “Iberian Electricity Market” – but there the final price is lower because it applies 6% VAT, compared to 21% in Spain.
In contrast, the price in France did not reach 70 euros/megawatt on average, just as in Italy, while in Germany and the Netherlands the average did not exceed 50 euros/megawatt, according to data from Red Eléctrica.
So, fifteen days after the new electricity bill time brackets became effective, designed by the Ministry of Ecological Transition, electricity prices in Spain continue to soar.
According to data from Facua, a consumer organisation that is calling on the government to take action in the face of “brutal tariff increases,” the price of electricity in Spain in the first fortnight of June is 45% higher than at this time last year. The electricity bill has shot up by 45% in the first fortnight of June. Facua has taken as a reference the current profile of the average user without time of use tarrifs published by the National Market Commission (CNMC). They consume 45% of electricity during off-peak hours (the cheapest), 29% during peak hours (the most expensive) and 26% during flat hours.
