Cost of electricity drops by 25%

The Spanish Government should be satisfied with the new electricity tariff imposed earlier this year. The average price of electricity for residential customers has been reduced by 25 percent over the first eight months of this year compared to the same period last year.

The average price to be paid in September this year would be around €95.63 per MWh, compared to €127.80 per MWh for the same period last year.

This significant price reduction is due mainly to the production of renewable energy in the first part of 2014.

Throughout the year consumer electricity prices have been consistently lower than those recorded in the corresponding months in 2013, and this can be linked to rising market conditions.

The Organization of Consumers and Users (OCU) yesterday launched a series of recommendations to monitor the electricity tariff. 

Among them, the association recommends that:

• Consumers should be made aware of the current tariff.
• Consumers should be aware of misleading advertising; they should not be tricked by discounts that are offered and which do not clarify the final price they pay; for example, a 10% discount on a low consumer tariff can work out to be a better deal than a 20% discount on a higher consumer tariff.

Consumers should reject offers that do not clarify whether the deal being offered is permanent, and which may change if the tariff is raised due to revision.