Spain's electricity prices have suddenly increased

The second week in January 2021 marked a significant wave of cold weather, as well as an historic all-time high for energy prices in Spain. Predictably, many consumers were outraged at the sudden 27% price spike, especially when countless people have been out of work or with reduced income due to the global pandemic. Consumer protection bureaus were flooded with complaints.

How big a jump did energy costs make? On the night of January 2, the price went as high as €114.02 euros per megawatt-hour (MWh).
On Christmas Day the previous year, the price was only €16.04 per MWh.