Electricity prices fall in Spain thanks to Russia

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Electricity prices fall in Spain thanks to Russia
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Electricity prices fall in Spain thanks to Russia’s Putin.

Russia recently announced that it would supply more gas to Europe. Gas prices dropped after Putin ordered Gazprom to increase Europe’s gas reserves. This means that electricity prices have are falling on the wholesale market.

On the wholesale market, the average daily electricity price is expected to fall by just over 14 per cent on Friday, October 29. The price will come in at 175.83 euros per megawatt hour (MWh). Friday will be the first day in over two weeks where the electricity price has dropped below the 200 euro mark.

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The international price of gas has caused electricity prices to fall. Gas prices have fallen after Russian President Vladimir Putin announced that gas supplies in Europe would be increased. Months of conflict have ended and the NordStream 2 gas pipeline is set to open in November. This has also caused gas prices to drop according to Invertia. Earlier this month electricity hit a staggering price of 288.53 euros.

Electricity prices are interlinked with the price of gas.

Both Spaniards and expats alike will be pleased to see electricity prices fall. Recently prices have soared. Prices still remain high though.



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Alex Glenn is a reporter for Spain’s largest English-speaking newspaper, Euro Weekly News. Formerly she worked in the NHS for 15 years until relocating to Spain in 2018. She loves the Spanish lifestyle, language and culture and spent several years learning Spanish before moving to Spain for a better quality of life. She has made her home in the mountains in Almeria, where she loves being part of a rural community that has a mix of both expats and Spanish residents. In her spare time, she enjoys hiking, reading and exploring the area where she lives.

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