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

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.