Good News: Spain’s Electricity Bills Fall by 21 Per Cent

SPAIN’S electricity bills have fallen by an average of 21 per cent in February.

According to Spain’s Organisation of Consumers and Users (OCU), the average electricity bill fell by 21 per cent from €70 to €55.

The OCU says the price for a typical home’s electricity fell for those who have a regulated rate contract.

The body says the electricity bill for a typical home with a contracted power of 4.6 Kw and an annual consumption of 3,500 kWh dropped from €69.88 euros to €55.13 euros, a drop of 21, 3%, according to calculations carried out by them.

When compared with the same month last year, the decrease is much smaller however, at just two euros, representing a reduction of 3.6 per cent year-on-year.

The OCU said the reduction was explained by a, “return to normality in energy prices, left behind by the strong rises in January coinciding with the storm.”

The price of energy in February saw large swings with average prices during weekdays and then drops during weekend. The result has been an average price of €29 Mwh, which is 50 per cent less than the highest prices during January, and which is slightly below those seen in February 2020.

The OCU announced that, like the previous increases, this decrease will only benefit households with a regulated rate contract; roughly 40 per cent of all consumers.

For the rest of the consumers, their bill will depend on the type of contract they have with their energy company.

Thank you for taking the time to read this news article “Good News: Spain’s Electricity Bills Fall by 21 Per Cent”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.