Search for  in 
spain jobs
backprinttell a friend

Electricity prices set to rise by up to 7% next month
ThinkSpain , Tuesday, March 27, 2012

The Minister for Industry, Energy and Tourism, José Manuel Soria, announced today that electricity prices for those on the TUR pricing structure (20 million households and SMEs) were set to rise by between 5% and 7% on April 1st.

In a statement to Antena 3, Soria emphasised that the government had no choice but to increase electricity prices, after the Supreme Court ordered that the allowable annual deficit in power supply pricing had been reached.

The Minister also made it clear that consumers would not bear the whole brunt of the price increases, with public coffers and electricity supply companies also paying their share.  "Otherwise," he explained, electricity prices would have to go up by 40%, and the country is not in a position to stand an increase like that".

He also said that next Friday's meetin go the Council of Ministers would be dealing with concrete proposals to reduce the tariff deficit - the result of the fact that revenue does not cover the costs of running the power supply system.

The TUR tariff, which is renewed every quarter, is the sum of two components: the tolls - which pay the sector's regulated costs (set by the government), and the price of energy itself - which is the result of regular auctions known as Cesur.

Last week's auction for brought about a price drop of between 3.7% and 2.89%, which, after technical adjustments, will translate into a reduction of around 7% in actual electricity costs.

However, the fact that the government did not make sufficient increases in the tolls, that all electricity consumers pay, means that the deficit has to be reduced to the legal limits of 3 billion euros in 2011 and 1.5 billion in 2012.

Print Share Article RSS News Feed
print tell a friend stumble it!  delicious  digg it!  facebook   rss feed View feed | Add to my RSS reader rss feed

Latest ThinkSpain News
Missing Diana Quer's ex-boyfriend investigated over 'violent' threats and Facebook log-ins add to mystery
Crime/Incidents - (26/10/2016)
Rajoy accepts King Felipe's nomination and could be president again by the weekend
Politics & People - (26/10/2016)
Nationwide school strike and protest marches against 'stifling' education reform and double exam pressure
Education & Employment - (26/10/2016)
Latest Business/Economy articles
Protests over TTIP and CETA in Madrid, Barcelona, Valencia and beyond
Spain  - (16/10/2016)
Balearics' first bitcoin cashpoint opens in Alcúdia
Balearic Islands  - (3/10/2016)
Inditex profits up by 8% with 83 new stores and 10,000 extra jobs in six months
Spain  - (24/9/2016)
Follow thinkSPAIN on
Facebook Twitter
Spanish news archive Costa Blanca news Costa del Sol news Alicante news Castellon Valencia news Barcelona news Catalonia Costa Brava news Madrid news Tenerife news Canary Islands Malaga news Marbella news Andalucia news Sevilla news Costa Almeria news Murcia news Costa Calida Aragon news Asturias news Balearic news Mallorca Menorca news Ibiza Basque news Bilbao Cantabria news Castilla La Mancha news Castilla Leon news Extremadura news Galicia news La Rioja news Navarra news Spanish Travel Tourism news Spanish Property Spain directory services Spanish Jobs in Spain Postcodes Spanish weather Spain History Spanish Culture Flamenco dancers Sevillanas Bullfighting bullfight bull fighting matador bullfighter Spanish Education Spain Schools Facts about Spain Clubs in Spain mortgages Spanish bank Spain banking Spanish banks Spain inheritance Spanish wills Spanish healthcare in Spain Working in Spain work Spanish employment Driving Spain cars Spanish car Spain Tax & Spanish Residency Property in Spain for Sale Spanish property to rent Spain holiday lets Spain news Spanish Properties costa blanca weather costa del sol weather local news/info Spanish estate agents Off Plan property Spain | Costa Blanca property | Costa del Sol property | Costa de la Luz property | Costa Brava property | Costa Almería property | Costa Cálida property | Costa Valencia property | Costa Azahar property | Costa Dorada property | Costa Garraf property | Costa Maresme property | Costa Vasca property | Costa Verde property | Costa Tropical property | Rías Altas property | Rías Baja property
© 2003-2016 Think Web Content, S.L. - All rights reserved