Were back to record prices for electricity one day after the other, thanks to tension with Russia and, of course, speculation.

The average wholesale price for electricity will go up by 23.15% tomorrow, for instance, reaching its highest price yet for a mega-watt hour… a staggering 544.98 euros.

That’s 102.4 euros more than today’s ‘record price’ of 442.54 MWH, according to the Operador del Mercado Ibérico de Energía (OMIE).

That, by the way, is the average over 24 hours because tomorrow between 19.00h and 20.00h the price is 700 euros per KWH. The ‘cheapest time is between 03.00h and 04.00h, if you want to set your alarm clock and get up to do you electricity-hungry domestic choirs because it only cost a piffling 424.88 euros per MWH

The day before the invasion, the electricty on the open market was going for just over 200 euros per/kwh but then it doubled for the 10.5-million homes which are not paying the fixed rate.

The Government already dropped the IVA down from 21% down to 10% and the special tax levied is 0.5% as opposed to the normal rate of 5.1%.

Behind it all is the price of natural gas, which all of the combined-energy power stations use, which has gone up by 50% since Friday. These power stations provide 15% of the country’s needs.

(News: Spain)