€288.53/MWh: 19th record-high cost since mid-July in Spain

Electricity prices to increase 26% in 24 hours, yet another all-time high on Thursday

The previous record was seen on Wednesday, days after surpassing €200 for the first time ever on October 1 by skyrocketing to €216.01 per MWh. This was a 14% jump on the previous all-time high, which was seen just two days earlier.

Costs have increased over the summer by over €100, and this is the 19th time prices have hit new all-time records since mid-July. Before this period of price hikes, the prior all-time high was seen in January 2012 at €103.76 per MWh.

Electricity bills have risen by an average of €14.77, according to the study.

The Spanish government recently stated that it would not step in to regulate prices. In a four-hour appearance before Congress, Spain’s ecological transition minister, Teresa Ribera, said that doing so would be “against EU law.”

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