Electricity bills increase to 'compensate' for recent reductions
Tuesday, July 1, 2014 @ 3:59 PM
ELECTRICITY bills are set to go up again after having fallen by 10 per cent in the early part of this year.
With energy prices in the first six months of 2014 being 30 per cent lower than at the end of last year - and 32 per cent less than the government's fixed prices - residents who have overpaid have been receiving refunds in their bills.
But from Tuesday (July 1) to the end of the year, consumers will pay on average 8.5 per cent more than they are now.
A sliding scale of increasing prices 'to compensate for reduced costs' back in January means that by December, utility bills will only have gone down by three per cent on average over the whole of 2014.
This year started with wholesale electricity 'pool' energy prices of 47.59 euros per megawatt per hour (MWh), which the government 'provisionally' increased in January to 48.48 euros after calling off what would have been the most-recent energy supply 'auction', a procedure previously carried out roughly every three months.
Read more at thinkSPAIN.com