Electricity prices rose by over 500 per cent in just a year. / EUROPA PRESS

Electricity price reached a record high in March, ending at 283 euros/MWh

Some days saw prices surge to 544 euros and with peaks of 700 euros, a rise of 528 per cent in just one year

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March came to an end with the cost of generating electricity at 283 euros per megawatt hour. Prices during the month were the highest ever, with a few days when the cost of electricity soared to 544 euros/MWh, and occasional peaks of nearly 700 euros/MWh.

At this time last year the cost was 45 euros/MWh, which means it has risen by 528 per cent in 12 months.

Gas prices also reached a record high, reaching 227 euros/MWh because of the situation with Russia.