The price of electricity will go up between 5% and 7% on April 1st 2012 according to the Minster of Industry, Energy and Tourism, José Manuel Soria.
Also according to the minister, the increase has been ‘imposed’ by a Supreme Court ruling which requires the rebilling of consumption for over 20 million consumers since October 2011 in order to recoup the actual cost of the electricity system.
The minister pointed out that to recover all the costs the rise would actually need to be 40% but added that this was out of the question.