There could be bad news in store for households in Spain as energy prices continue to rise. The Spanish Organisation of Consumers, OCU, has said if the electricity prices continue to increase the average household electricity bill for the month of October could rise to 100 euros. This would represent an increase of 14.4 per cent compared to the month of September, which reached an average of 87.40 euros.
According to the data collected by the OCU, the average bill of the regulated PVPC rate (voluntary price for small energy consumers) shows an increase of 33 per cent so far this year, which, in the opinion of the organisation “makes it practically impossible that the Government fulfill its promise that the annual bill this year will not exceed that of 2018, plus inflation.
In the wholesale electricity market, the price has risen 30 per cent compared to September, reaching an average price of 200.77 euros / MWh.
The OCU forecasts that October will once again be a month with record wholesale electricity prices. In fact, it points out that the daily price so far this month has never dropped below 111 euros, and has reached daily highs that have touched 300 euros / MWh.
Predictions from the consumer organisation show that the bill for an average household (4.6 kW of power and 292 kWh of monthly consumption) will rise by 14.4 per cent to 100 euros this month. This represents an increase of 12.6 euros over the already high September bills. Without the set of special measures applied by the Government, the cost of the average bill would have risen to 132.3 euros.
In view of the data, the OCU believes that the Government will not be able to fulfil its commitment that the annual bill this year will not exceed that of 2018, plus inflation. For this to happen the electricity bills for the months of November and December would have to be about 50 euros on average, a figure that seems to be quite unlikely.