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Date Published: 07/03/2022

ARCHIVED - Electricity prices in Spain reach all-time high of 500 euros. This is how you can reduce your bills, says Grupo SIA

The cost of electricity in Spain is ten times higher than a year ago. That’s why homeowners are taking matters into their own hands.

<span style='color:#780948'>ARCHIVED</span> - Electricity prices in Spain reach all-time high of 500 euros. This is how you can reduce your bills, says Grupo SIA

The price of electricity on the wholesale market has reached an astonishing 442.54 euros per megawatt hour (MWh) on Monday March 7, a 17% hike compared to Sunday and the highest price ever recorded.

According to the Iberian Electricity Market Operator (OMIE), the most expensive time to run household appliances on Monday will be during the peak hours of 7 and 8pm, when each megawatt hour will cost a staggering 500 euros, while the most efficient time will be between 11pm and midnight, at 379.02.

With the uncertainty caused by the conflict between Russia and Ukraine, which has seen gas and oil prices skyrocket already, electricity this week is already ten times higher that it was on the same day a year ago, and 115% higher than when the war began on February 24.

To cushion the impact that the rise in electricity prices is having on consumers, the Spanish government has extended a series of tax breaks on VAT and electricity generation until June 30, but people are desperate to find any way they can to further save money.

It’s little wonder, then, that so many people in Spain are turning to solar power in an effort to reduce their bills, with the installation of panels promising a 60% reduction in electricity bills and a long-term return of 10% or more each year.

The rest of Europe is likewise feeling the pinch, with the UK paying around the same as Spain this Monday for electricity, while in Italy a megawatt hour has shot up to 453.51 euros.

Unlike the UK though, which has relatively few sunlight hours each year, Spain is perfectly placed to take advantage of solar energy, and more and more homeowners are turning towards this efficient renewable energy source to generate their own power sustainably, and not be so reliant on external political factors which can change at the drop of a hat.

See also: Cut your electricity bill by up to two thirds with solar panels

To make the most of solar panels on your house, garden pergolas or any other part of your property, the experts from Grupo SIA recommend having a professional study the best place to fit solar panels and which direction they should face to get the most sunlight possible. It’s also a good idea, once you have the solar panels installed, to undertake regular checks to make sure they are working to full capacity.

That way, if you generate more energy than you need, you can actually sell it back to the national grid for a profit!

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Grupo Sia offers you the chance to save up to 65 per cent on electricity bills in the Costa Blanca and the Costa Cálida, specializing in the installation of solar panels so that you can enjoy clean, sustainable, high-performance energy in your home or business premises.

Grupo Sia solar power installations The advantages of photovoltaic energy mean that solar panels can help you reduce energy consumption, produce you own energy and obtain better electrical performance: for homeowners the gains are obvious, while in business the lower energy costs today make companies more competitive, enabling them to use the electricity supply in a sustainable way and without eating into profit margins.

Grupo Sia solar power installations Energy is generally costly in Spain, since despite the potential of solar power the country imports a high proportion of its energy from abroad. This can result in uncomfortably high monthly bills for both homeowners and businesses, with Spain being the eighth most expensive country in which to use electricity in the whole of Europe.

But in the medium to long term, solar energy goes a long way towards providing a solution, with the climate favouring this green, clean, sustainable energy source.

In addition, if your solar panels generate more energy than you use you can either store it for future use or sell it back to the electrical grid.

Grupo Sia solar power installations But before installing solar panels it is vital to receive the best possible advice on what type of installation and panels are most convenient for you, and Grupo Sia guarantee that with over 20 years of experience in the sector they can offer you the optimum solution. Grupo Sia take care of the entire installation project, first carrying out a personalized economic and technical analysis adapted to each customer’s needs and then completing employing professional engineers and technicians to complete the installation.

They also look after all of the paperwork, ensuring that everything is fully legally registered and making sure that all electrical connections are operative and in perfect working order, be it at country houses, other private homes, apartment buildings, residential communities or business premises.

Grupo Sia solar power installations Solar panels can represent an important investment, but the costs can be made extremely manageable by financing the procedure for as little as 3 euros a day.

And once your panels are installed, Grupo Sia also offers regular solar panel maintenance in order to ensure continued quality performance, with a repair, replacement and cleaning service guaranteeing 100 per cent functionality.

Grupo Sia solar power installations In these changing times Grupo Sia also offers electric car charger installations for all models and brands, either in private or community garages, including the corresponding permits.

Contact Grupo Sia now for further information and to request a budget tailored to the needs of your home or business, throughout the Region of Murcia and the province of Alicante: English is spoken!