- Spain records highest electricity prices
- Electricity is expected to reach €120 per MWh
The cost of electricity in Spain reached a record-breaking high at €114 per Mwh on Monday. The Iberian Electricity Market Operator (OMIE) has announced that the new record is expected to be broken today with a new all-time peak price of €120 per MWh. These prices are the highest ever electricity prices recorded in the country.
The new peak pricing represents a 180% increase from last year when the rate stood at €38.09 per Mwh; the previous high record price was set in July last year at €106.57.
This year, the rising cost of electricity has forced the Spanish government to suspend some energy taxes.