Electricity prices - Spain
This table/chart shows the OMIE spot exchange prices for the Spain bidding zone in the Day-Ahead market, using local time (Europe/Madrid)| Period | Today €/kWh | Tomorrow €/kWh |
|---|---|---|
| 00:00 - 01:00 | 0.0153 | 0.0670 |
| 01:00 - 02:00 | 0.0149 | 0.0450 |
| 02:00 - 03:00 | 0.0177 | 0.0378 |
| 03:00 - 04:00 | 0.0153 | 0.0350 |
| 04:00 - 05:00 | 0.0140 | 0.0350 |
| 05:00 - 06:00 | 0.0153 | 0.0398 |
| 06:00 - 07:00 | 0.0223 | 0.0700 |
| 07:00 - 08:00 | 0.0350 | 0.1081 |
| 08:00 - 09:00 | 0.0221 | 0.0683 |
| 09:00 - 10:00 | 0.0060 | 0.0256 |
| 10:00 - 11:00 | -0.0009 | 0.0012 |
| 11:00 - 12:00 | -0.0030 | 0.0000 |
| 12:00 - 13:00 | -0.0040 | -0.0005 |
| 13:00 - 14:00 | -0.0040 | -0.0025 |
| 14:00 - 15:00 | -0.0040 | -0.0021 |
| 15:00 - 16:00 | -0.0042 | -0.0000 |
| 16:00 - 17:00 | -0.0040 | 0.0000 |
| 17:00 - 18:00 | -0.0015 | 0.0007 |
| 18:00 - 19:00 | 0.0000 | 0.0247 |
| 19:00 - 20:00 | 0.0103 | 0.0336 |
| 20:00 - 21:00 | 0.0618 | 0.0927 |
| 21:00 - 22:00 | 0.1220 | 0.1281 |
| 22:00 - 23:00 | 0.1038 | 0.1123 |
| 23:00 - 00:00 | 0.0704 | 0.0746 |
🔌 Spain’s Electricity Market: A Surge in Renewables, Dynamic Pricing & Policy Shifts
Spain’s electricity market is undergoing a rapid and remarkable transformation. From record-breaking renewables to smarter tariffs and sweeping policy updates, the 2023–2025 period is setting the stage for a greener, more flexible energy future.
⚡ The Energy Mix: Renewables Take the Lead
Spain hit a historic milestone in 2023: for the first time, renewables generated more than 50% of its electricity. By 2024, this grew to nearly 57%, driven by:
- 🌬️ Wind Power – The #1 source in both years, supplying ~23% of electricity.
- ☀️ Solar PV – Overtook gas in 2024, hitting ~17% of the mix.
- 💧 Hydropower – Rebounded thanks to wetter weather, contributing ~13%.
- 🔋 Nuclear – Stable at ~19%, acting as a low-carbon base load.
- 🛑 Coal – Practically phased out, contributing just ~1%.
By 2025, Spain is on track to generate three-quarters of its electricity from zero-emissions sources.
🗺️ Regional Highlights
- Catalonia: Top producing region, powered mostly by nuclear.
- Castile and León: Over 88% renewable, led by wind.
- Andalusia & Aragon: Massive growth in solar and wind, ~80% clean generation.
- Galicia: Boosted by hydro and wind, hitting ~75% renewables.
💰 What Makes Up Your Electricity Bill?
A typical Spanish household bill includes:
- Wholesale Market Price (~50%) – Reflects real-time market trends.
- Grid Costs (~25%) – Fixed charges for transmission and distribution.
- Taxes & Levies (~10–20%) – Includes VAT (temporarily cut to 5–10% in 2023/24).
- Retailer Margin (~5–10%) – Admin costs, meter rental, and customer service.
In 2023–24, temporary tax cuts and lower gas prices helped bring bills down after the 2022 energy crisis.
🔄 Dynamic Tariffs: Power When It’s Cheapest
Spain is a European pioneer in dynamic electricity tariffs – plans where prices change every hour, based on wholesale rates.
Key Features:
- Prices published daily for the next 24 hours
- Encourages shifting usage to cheaper hours (e.g. overnight or midday solar peaks)
- Requires a smart meter (widely deployed)
The most common dynamic option?
PVPC (Precio Voluntario para el Pequeño Consumidor) – the regulated hourly tariff used by ~⅓ of households. In 2024, it was reformed to include futures prices, reducing volatility.
Other providers offer similar “indexed” plans – sometimes with added perks or flat monthly fees.
🏢 Who Offers Dynamic Tariffs?
Spain’s biggest electricity providers all now offer dynamic pricing:
| Provider | Market Share | Dynamic Tariff |
|---|---|---|
| Iberdrola | ~33% | PVPC + Indexed |
| Endesa | ~32% | PVPC + Time-of-use |
| Naturgy | ~14% | PVPC + Variable plans |
| Repsol | ~6% | Indexed + Fixed hybrid |
| Others | ~15% | Factor Energía, Holaluz, Octopus, etc. |
💡 EU rules now require providers to offer dynamic pricing by 2025 – but Spain is already ahead of the curve.
🏛️ Policy & Market Changes
Several key reforms are shaping the market:
- 🇪🇸 Spain’s updated climate plan targets 81% renewables in electricity by 2030.
- 🇪🇺 EU Electricity Market Reform encourages long-term contracts and mandates dynamic pricing.
- ⛽ The Iberian Gas Cap, which helped contain prices, ended in 2023.
- 🧮 PVPC Tariff Reform adds stability by blending in forward prices.
- 🧩 Grid modernization & renewables permitting were streamlined to speed up the green transition.
🔮 Looking Ahead
By 2025, Spain will be:
- Generating most of its power from wind, solar, and nuclear
- Offering dynamic pricing to all smart-metered customers
- Preparing for a future of EVs, energy storage, and self-consumption
With bold targets and the technology to match, Spain is positioning itself as a European clean energy leader.