40% hike in electricity bills forecast for August

  • 10 August, 22

Endesa boss warns of unpleasant surprise for bill payers in August while the government claims prediction is “alarmist”.

Electricity bills are set to increase by up to 40% because of the Iberian mechanism to limit gas prices, according to the executive president of Endesa, Nuno Ribeiro da Silva, in an excerpt released from an interview with Jornal de Negócios and Antena 1. In reaction, the Ministry of Environment and Climate Action has spoken of “alarmism”.

“On July’s electricity consumption bills, people will be in for an unpleasant surprise: we are talking about almost 40% or more. It has nothing to do with the electric companies. It will appear on the invoices, in a specific line, saying that the mechanism covered by the diploma x of the ceiling on gas prices is up to you, happy taxpayer — or unhappy taxpayer — to contribute x beyond what you had in your contract,” said Nuno Ribeiro da Silva.

The Ministry of the Environment and Climate Action argues that prices in Portugal and Spain “have been consistently below countries like France or Italy”.

Cre: Portugalnews