14 Dec, 2021 @ 18:15
1 min read

Price of electricity in Spain to break record highs on Wednesday

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THE price of electricity in Spain will break new records on Wednesday as Spain’s electricity operator (OMIE) predicts an average cost of €291.73 per megawatt hour (MWh).

This will exceed the record set on October 7 when electricity prices hit €288.53 on Spain’s wholesale electricity market.

Costs have fallen to €100 per MWh on days in December, before a spike related to soaring natural gas and CO2 emission costs has sent prices upwards once again.

Costs per MWh are also set to exceed €300 for a four-hour period between 6pm to 11pm.

The costs for Spain’s wholesale electricity market serve as a reference for 17 million households buying electricity on the free market.

It means that consumers will be paying a base of €0.30 per kilowatt hour (KWh) on Wednesday, plus 10% VAT. Average households in Spain consume 10 KWh of electricity per day.

It comes after Spain’s government passed emergency measures to make sure no one pays more for electricity than they did in 2018.

The 10% VAT paid on top of base electricity costs is one of those temporary measures after the government reduced it from 21% after gas prices began soaring in the summer.

The government also halted a 7% tax on electricity generation during the third quarter of 2021.

The cost of fuel last month also reached its highest prices since 2012, with petrol costing €1.509 per litre and diesel €1.376 last.


Joshua Parfitt

Joshua James Parfitt is the Costa Blanca correspondent for the Olive Press. He holds a gold-standard NCTJ in multimedia journalism from the award-winning News Associates in Twickenham. His work has been published in the Sunday Times, Esquire, the Mail on Sunday, the Daily Mail, the Sun, the Sun on Sunday, the Mirror, among others. He has appeared on BBC Breakfast to discuss devastating flooding in Spain, as well as making appearances on BBC and LBC radio stations.

Contact me now: [email protected] or call +44 07960046259. Twitter: @jjparfitt


  1. Let’s play connect the dots. “Price of electricity in Spain to break record highs on Wednesday … Wind power overtakes nuclear as Spain’s main energy source.”

    Ever get the feeling that you’re being played? Our over-paid politicos can well-afford to pay any increase out of their stuffed wallets (though they no-doubt claim their electricity costs on expenses) so they can virtue-signal their green credentials to their hearts’ content and tell us what a wonderful job they’re doing to save us from a harmless, essential gas. Little granny Perez down the road, however, has no one to pick up the exorbitant tab for her… and neither do millions of other Spaniards struggling to stay afloat as the economy sinks beneath their feet.

    Did you connect the dots yet? Good, because someone has to pay for all those uneconomic bird-choppers… and it’s you….

    Location : Spain
  2. Hard to believe “wind power” is the No1 energy source in Spain or any other country for that matter? Where did you get that info, I hope it is true.

    Location : Marbella
  3. Rubicons, the info is on The Olive Press. The two articles were on the same page; which is what caught my eye.

    As for hoping it is true… read on:

    … Scroll down and read the article titled “Mining The Planet To Death – the dirty truth about clean technologies.”

    A quick search on these sites will find the articles for you…

    “Germany’s new government plans to use 10% of country’s land for wind turbines.”

    “Industrial wind turbines simply can’t handle high winds.”

    “Wind turbine blades can’t be recycled, so they’re piling up in landfills.”

    ¡Feliz Navidad!

  4. Another one for you, Rubicons: more facts about those bird-choppers you so love. Coming to a hillside near you?

    … with emphasis on ‘mental’…. Don’t turn away; the article merely gives the facts: no lies, no misinformation, no political spin… it’s called the truth. Woah! Frightening….

  5. Anti-Vaxxer. Climate change denier (harmless gas?) The condemnatory list is growing. Should we add Right-Winger? Brexiter ? “Pro-Life” anti_abortionist ? Capital punishment ? Trump-lover ? Let the goose-stepping begin!

    Location : malaga
  6. Oh, Stef and Jo, Stef and Jo… there you go with the nasty name-calling again. Well, never mind… if it helps you feel better. Now, you know I’m going to upset you again, don’t you… you do, don’t you? Not with name-calling… just some facts. Ready?

    1: NASA (woah!) declares carbon dioxide is greening the earth! The planet is getting greener and we have CO2 to thank for it. …

    2: “Our planet has mostly been much hotter and more humid than we know it to be today, and with far more carbon dioxide in the atmosphere than exists today. In the Jurassic period, CO2 levels were an average 1200 ppm. Today, at 380 ppm, our atmosphere is CO2-impoverished.” …

    3: CO2 will feed the world! “Wheat plants experienced a ‘significant’ yield advantage – and recovery (uptake) of applied fertiliser – with higher levels of CO2.” This is the same with most foods consumed by man – take a look. You do want to feed the poor people, don’t you, Stef and Jo?. …

    4: Who hasn’t heard our current politicos and (bought) alarmist scientists, scream: “Higher levels of CO2 (a harmless gas) will lead to climate disasters! Danger! Danger!” Take a look at some low CO2 climate disasters of the recent past.

    I could type this stuff all night, but you let your fingers do the looking… if you’re interested in the truth. Oh, and the Nazis were – drum roll – socialists: the National Socialist German Workers’ party… Nationalsozialistische deutsche Arbeiterpartei or NSDAP. Right-wingers want less government control; leftists want more government control. It’s called history 101. Oh2, and Trump wanted (and had) less government control; Branden wants (and has) more government control… real world 101.

    ¡Feliz Navidad!

  7. Oh, come on, The Olive Press; publish the NASA comment. Stef and Jo and I are having a spirited exchange of views here. We commentators may disagree on everything, but let our views be read by your wonderful readers… they might learn something new and to their advantage….

    Location : Spain

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