Spain electricity bill: sample hits €92.44 in October

A sample electricity bill on Spain’s regulated tariff reaches €92.44 in October, up from €86.22 in September. That is a 7.2% rise, according to calculations by the consumer group Organización de Consumidores y Usuarios (OCU) on 30 October. The example is based on a customer with 4.6 kilowatts (kW) of contracted power who uses 292 kilowatt-hours (kWh) in a month.

The tariff is called Precio Voluntario para el Pequeño Consumidor (PVPC). On the same basis, the bill is 28% higher than in October last year.

OCU links the rise to higher wholesale electricity prices. Gas became more expensive, while wind and solar power contributed less. The average wholesale price reached 165 euros/MWh in October, 15.4% above September’s level. Natural gas rose from 74 to 98 euros/MWh during the month.

There will be no tax cut to offset the increase. OCU says the condition tied to consumer prices has not been met, so VAT will not fall to 10% and electricity tax will not fall to 0.5%.

The group advises customers to check their electricity contracts. That applies to those on fixed tariffs too, but especially to customers whose rates track market prices, including those on PVPC, who are more exposed to price swings.

Topics: Economy

Source: Europa Press / Mallorca.com