- Electricity prices have risen by 36.2% in Spain
- Electricity monthly bills now €85.34
Spain has experienced an upward trend in electricity prices with the latest figures showing a 36.2% jump in the pricing. According to an analysis by Facua-Consumidores en Acción, the latest figures show a 36.2% increase in electricity bills from July 2020. As a result, consumer electricity monthly bills are now €85.34, an almost €23 increase from July last year’s bill of €62.77.
The upward trend isn’t abating with prices for August continuing in the trend. On Monday, August 2, the daily wholesale price was €103.07 Mwh. In June, the Spanish government had approved a lower VAT rate for electricity, lowering it from 21% to 10%; as a result, the electricity prices were reduced. Spain, in July, experienced the third most expensive month for consumers with record-high inflation for electricity consumption.