ARCHIVED - Spain reports highest electricity price since January on Tuesday June 15

Spain reports highest electricity price since Storm Filomena pushed up demand

As the Spanish summer weather has kicked in relatively early this year and many have already resorted to turning the air con on to cool down, there could be some nasty surprises in store when bills arrive. 

Electricity prices in Spain will be the highest they have been since January on Tuesday June 15 with an average price of 90.95 euros per megawatt-hour (MWh), the OMIE (Iberian Electricity Market Operator) has reported. 

The highest price this year was reported on 8 January, in the midst of Storm Filomena, which had much of Spain and Europe shivering in the snow, when it reached a high of 95 euros per MWh. Up until now, the second-highest recorded was on 28 May, with a peak price of 88.95 euros. 

Electricity seems to be getting more and more expensive as time goes by, with the average bill in May almost 44 per cent higher than in May 2020. 

This is all bad news for consumers, especially those who have yet to get the hang of the new system whereby different rates apply depending on the time of day that came into force at the beginning of the month, who could well be in for a shock when their next bill arrives.

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