Electricity bills up 7% in October, the highest spike since January

The average electricity bill in Spain went up by 7% in October compared to September, the highest rise since January when bills went up almost 10%.

Specifically, average bills for homes reached €71.49 in October. The average is calculated by taking a power supply of 4.4kW and annual consumption of 3,900 kilowatt hours, the norm in a household with two children.

October saw the return of tension in the wholesale electricity market, known as the ‘pool’, responsible for 35% of the amount paid by consumers. 40% corresponds to costs of accessing the supply and the remaining 25% to VAT and taxes on electricity.

Electricity costs rose in the first half of the month because of high pressure weather fronts over Spain that meant more gas and coal-fired electricity was needed. On the 23 October, electricity reached its highest price this year between 7pm and 8pm when it cost €182.54 per MWh. Compared to last year, electricity bills cost almost 3.14% more.

Average Spanish household spends €76 more on electricity so far this year

Over the first nine months this year, the average electricity bill has reached €682.89, 12.6% more than the same period last year, the equivalent of €76. Electricity costs continue to climb despite small decreases in July and August.

About SPI News Feed

SPI News Feed provides general news about the Spanish property market and related articles translated from the Spanish press. For more in depth news, analysis, and opinion, see Mark Stücklin's blog.

One thought on “Electricity bills up 7% in October, the highest spike since January”

  1. Chris Nation

    ” …high pressure weather fronts over Spain that meant more gas and coal-fired electricity was needed”

    Eh?! My meteo studies for Yachtmaster Offshore and Yachtmaster Ocean had it that high pressure = ‘good weather’ i.e. clear skies = sunshine. Why the need for more gas and coal energy and why not more solar? And why the need for more energy from whatever source?

    I smell a price hike rat.

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