August household bills expected to be 43 per cent higher in Spain than last year
The wholesale cost of electricity in Spain continues to reach unprecedented highs and on Thursday, August 26 reached a record average of 122.76 euros per Megawatt hour, a full 5 euros higher than the previous maximum which was reached just 13 days ago.
To put the figure into perspective, this tariff is almost three times higher than it was on the same date last year (46.25 euros), and although it is by no means the only component of average monthly household bills it is important enough to result in a significant increase in the prices paid by consumers. The consumers’ association Facua estimates that average household bills in the first half of August this year will be 43.7 per cent higher than in the same period in 2020, and that in August as a whole the monthly bill will come to over 91 euros as opposed to 63.77 euros last year.
This is despite the VAT rate on electricity having been temporarily reduced from 21 per cent to 10 per cent until December in an effort to alleviate the pressure on homeowners’ monthly budgets.
Source: Murcia Today