Electricity prices continue to rise in Spain

The price of electricity continues to rise in Spain, reaching almost 29 per cent more than the price last week per megawatt hour (MWh.)

The price of electricity in Spain will rise 11.6 per cent tomorrow, November 9, reaching almost 29 per cent more than last week per MWh, when it was 154.29 megawatt hours on average.

In annual terms, electricity has shot up 336.82% per cent, since on November 10 last year, the average price was €45.62 per MWh.

The maximum price of electricity will be between 9pm and 10pm at €230.01 per MWh, while the minimum price will be between 4am and 5am when it will cost €171.81.

The Minister of Ecological Transition Teresa Ribera pointed out last Friday that “it is not ruled out” that high gas prices are still registered in international markets “until well into 2022”, and that this continues to have its corresponding “effect” on electricity bills in Spain.

“What we are experiencing is a consequence of the volatility of the price of gas in international markets”, said Ribera, who also noted that once the tax burden has been reduced “by almost 60 per cent, the average costs of the household bill in Spain will remain around what they paid in 2018 at the end of the year.”

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