Unraveling the Rise in Electricity Prices in Spain during 2023

The increase in electricity prices in Spain is due to various factors such as the European energy shortage, mainly related to the conflict between Ukraine and Russia, the world's largest gas producer. In turn, European dependence on Russian gas and export restrictions have forced Spain and other countries to seek more expensive suppliers like Algeria or France. Moreover, the high dependence of the Spanish energy market on fossil fuels causes an increase in raw material costs, coupled with the rise in the price of CO2 emissions, which directly impacts the end consumer.

In the face of the current situation, some electrical companies are offering fixed tariffs to avoid fluctuations between time slots, while other consumers take advantage of off-peak hours and seek solutions such as changing suppliers or reducing the contracted power. A promising option for energy independence is photovoltaic self-consumption, which allows for generating and consuming one's own energy, reducing dependence on major utilities by up to 70%. With the offers, subsidies, and tax incentives available, it is possible to install solar panels and, after amortizing their cost, enjoy free electricity during the day. A sustainable and accessible solution that is worth considering!