Spain’s Socialist-led government faces a growing crisis after months of rising electricity bills that have led to popular discontent at some of the highest rates in Europe. The cost of electricity has reached historic peaks, beating all records in the past four days. Customers are paying an average of €140 per megawatt-hour, according to OMIE, the electricity market operator for the Iberian Peninsula. At the start of last month the cost was already three times higher than it had been a year earlier. The government has said that the rising prices are driven by high demand, rising prices for the gas imports Spain needs to meet its energy needs, and increases in the cost of carbon certificates, which give companies the right to release carbon dioxide.
Times 3rd Sept 2021 read more »