Spain’s new electricity tariffs begin today with a three-tiered system providing cheaper periods for consumers late at night and in the early hours of the morning.
Peak prices, for example between 9pm and 10pm, will be 116 percent more expensive than during off peak hours before 8am.
Three times sections will be set for the new electricity tariffs: peak, flat and valley.
The peak period, in which the cost of tolls and charges will be higher, will be between 10am and 2pm and 6pm and 10pm;
The flat section, with an intermediate cost, will be between 8am and 10am, 2pm and 6pm and between 10 pm and midnight;
The valley rate, the cheapest of the three, will be between midnight and 8am and at all hours over the weekends and holidays.
The change will apply to electricity rates for power below 15kw, which means households and small and medium businesses will be affected.
Millions of people, including thousands of British residents in Spain, who have less than 15kw contracted, will change to a single tariff regardless of the tolls they were paying before.
More than 73 per cent of consumers, it is expected, will see reductions, but some may be only very slight.
Also, today, June 1, a draft proposal will be presented to the Council of Ministers which may reduce the price of electricity bills by as much as five percent.
The bill is intended to end the so-called “benefits that have fallen from the sky” in reference to the excess remuneration that energy companies get for electricity produced by their gas and nuclear plants.
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