The quarterly revision of electric prices issued by the CNE (Comision Nacional del Energia, or National Energy Commission) has recommended raising electric prices across the board, from 2.8% all the way up to 10.4% (depending upon use of the electric, different prices are applied), after having approved raises of 5.6% in January and 3.3% in July. The changes would be applied as from the 1st of October is approved by the government next week. The electric tariffs still have to be approved, but that’s why (in my opinion) they put the top range at 10.4%, to give the politicians wriggling room.
Spain is still struggling with a huge income deficit in the electrical market, which by June had reached 2.974 million euros (ie, the difference between income and cost of production – mainly covered by our taxes, of course). Given this, expect even more raises, unless this turns into a big political struggle – which it may not, as I think everybody knows the position is unsustainable.
Life would be a lot easier all round if the politicians did the brave thing and just built a couple of new nuclear power stations. “Green” alternatives aren’t there yet, and while they will never get “there” unless vast amounts of cash is pumped into the market (which is happening) there is still a good gap until they become a viable alternative. Stuff smelly old coal and gas fired stations (which Greenpinkos don’t seem to mind) build some nice clean nuclear ones.