Spain's renewable energy investments lower household electricity bills by €10 per month amid energy crisis
By
Ruth Wright
Summary
Spain's electricity bills have decreased by €10 per month per household since the closure of the Hormuz strait triggered an energy crisis, thanks to the country's strong commitment to renewable energy. Renewables have reduced the influence of fossil fuels on electricity prices by 75% since 2019, insulating Spanish consumers from the price volatility caused by expensive gas-powered electricity generation.
Source
bskySpain's renewable energy investments lower household electricity bills by €10 per month amid energy crisiseuronews.comKey quotes
· 3 pulledSpain’s electricity bills have fallen while many other countries have seen a rise since the energy crisis caused by the outbreak of the Iran war.
Thanks to the country’s commitment to the clean energy transition, renewables have reduced the influence of fossil fuels on the electricity price by 75 per cent since 2019.
Gas is typically the most expensive source of electricity and raises electricity prices in any hour it is used for power.
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