Power shock

Electricity prices soar as temperatures plummet

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Energy minister Álvaro Nadal has attributed the wholesale price hikes in part to a “lack of wind and rain”, both of which generate cheap electricity

AS SPAIN shivered in its coldest winter for years, news came of a new enquiry into the reasons behind “successive increases” in Spain’s power prices. Friday’s increase of 2.6 per cent on domestic electricity bills came ahead of new record high prices in the wholesale price of energy this week.

Under a 2014 consumer protection law, prosecutors at the Supreme Court have the right to delve into any matter which they regard as being in the interest of consumers, and they now want to examine all the factors which determine the pricing of domestic energy supplies.

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