Electricity prices increase by an average 5.6 percent on July 1

Electricity prices increase by an average 5.6 percent on July 1
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By h.b. - Jun 17, 2008 - 7:25 AM

Minister for Industry, Miguel Sebastian - Archive Photo EFE

Prices will increase proportionately more for those who use more power.

The Ministry for Industry is putting the final details on the proposal to increase electricity prices in Spain, with an increase which will result in prices between 7.3% and 8.3% higher in some 18 million homes. The average official increase, to be imposed on July 1 is 5.6%.

The idea of the new changes is that those who use more power pay proportionally more for doing so, while those who use less are charged a lower amount.

The increase will be 5% for those small and medium companies who have the 2.0.2 or 2.0.3 tariff and power of between 2.5 and 5 kilowatts and between five and ten kilowatts – which total some 18 million users.

The new increases come on top of a general 3.3% increase in price which was introduced at the start of the year as the Governments wants to get charges close to the real costs of generating power.

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