The President of the Government, Mariano Rajoy, has announced a 2.3% increase for domestic customers from January 1, 2014.
The increase wil be reviewed after three months.
Rajoy has explained that after three months there will be finite mechanisto to calculate the price of electricity in line with the recommendations of the CNMC (The National Commission of Markets and Competition).
The 2.3% increase was approved by royal decree after the Government reacted to a report by the CNMC on December 19 and suspended the proposed 11% increase.
Rajoy has warned that “having the most expensive electricity in Europe is bad for competition, for creating employment and the cost for businesses.
