We can expect to see some savage rises in the cost of electricity before the end of the year warns consumer organisation FACUA. You see, we all know about the fuss earlier this year with the electric companies keeping the price artificially high. The government was forced to act due to public outrage (and the threat of an EU investigation), and prices dropped, ever so slightly.
40 euros apiece is what OCU, the consumer union, reckons we’ve been overcharged on our last three electric bills. It’s because the storms in the north of Spain have made the renewable energy generators produce more electricity than expected, driving down prices. That means the electric companies must repay 680 million euros to their customers, and will, in the July bill.
The chairman of Spanish power utility Iberdrola, Ignacio Sánchez Galán, on Wednesday lashed out at the government’s energy policy and announced that his company “will make a testimonial reduction in its investments in Spain in the period 2014-2013” and not invest any more in developing its domestic renewables business, at least until 2016.
Electric taxes (which account for 60% of your bill) go up 2% on Jan 1st to help pay for the energy tariff. Furthermore… on Thursday we see the next energy auction which will set electric price for the 1st quarter of 2014. Expect another raise from there. Depressing, isn’t it? The Spanish energy market is fixed by an auction four times a year between those who sell us the electric, and those who generate it. Continue reading Tax on electricity to rise in Jan… also base costs
Have you ever thought about checking your contracted power level? FACUA, the consumer union, is advising households to check the potencia eléctrica contratada in their homes. Many household will have a potencia which is higher than they need, meaning they’re paying for something they never use. You see, in short: When you sign up for a power supply, you choose a contract power level (potencia eléctrica contratada) which appears on your bill. The default level Continue reading Tried saving on energy bills by checking your supplied power?
A complaint has been lodged alledging that the IVA increase, due on the 1st of September, will affect water, gas, telephone and electric bills for the months of July and August unless the government issues an exception. FACUA, the consumers organisation, has pointed out that most utility companies will issue their two months bills in September, after the 1st of September increase in IVA. However, the bills will be for services provided in July and Continue reading IVA increase will apply to July and August utility bills
Spain said power prices would rise by 7 percent to help contain an accumulated 24 billion euro (20 billion pounds) deficit due to utilities selling electricity below nominal costs. Industry Minister Jose Manuel Soria said on Friday the increase would have been 30 percent if consumers alone had been required to pay to keep the “tariff deficit” within legal limits for this year, and to eliminate it next year. But utilities would also contribute by Continue reading Spain increases electricity bills to trim deficit
Spain’s centre-right government may decree on Friday an electricity rate hike of up to 7 percent for consumers and cut subsidies to power distributors by 10 percent, several newspapers reported on Saturday. However, government sources told Reuters there was no decision yet on the exact content or timing of pending energy sector reforms. The cut in subsidies to distributors would hold down Spain’s rising tariff deficit, which is backed by the government, by some 500 Continue reading Spain to hike power rates
This was the question I posed to José Luis, my friendly Endesa rep who popped round this morning with Christmas cheers and a bottle of fine whisky, courtesy of Endesa. (That’s a lie, it was actually a business card holder with the Endesa logo blazoned on it). He intially gave me the standard foboff about bad weather, high consumption, etc. Not good enough, said I, to explain the 20 odd power cuts we’ve had since Continue reading Why are we having so many power cuts?