Electricity prices in Spain 2025
In 2025, the average wholesale day-ahead electricity price in Spain was € 0.0664 /kWh (▲3% vs 2024). Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2025
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2025 | € 97.31 | € 0.0973 | 28,980 |
| February 2025 | € 108.94 | € 0.1089 | 28,528 |
| March 2025 | € 54.92 | € 0.0549 | 27,774 |
| April 2025 | € 28.74 | € 0.0287 | 24,620 |
| May 2025 | € 18.29 | € 0.0183 | 24,188 |
| June 2025 | € 75.08 | € 0.0751 | 28,149 |
| July 2025 | € 72.47 | € 0.0725 | 29,369 |
| August 2025 | € 70.11 | € 0.0701 | 27,677 |
| September 2025 | € 60.84 | € 0.0608 | 26,684 |
| October 2025 | € 74.23 | € 0.0742 | 25,371 |
| November 2025 | € 58.97 | € 0.0590 | 27,071 |
| December 2025 | € 77.07 | € 0.0771 | 28,478 |
Spain runs Europe's third-largest electricity grid behind Germany and France, with renewables providing 56% of generation in 2024 — wind 24%, solar 21%, hydro 11%. Red Eléctrica de España (REE) operates the single ES bidding zone, which is electrically a peninsula: only ~6 GW of interconnection to France crosses the Pyrenees, leaving Spain often price-decoupled from Continental Europe. The Iberian Exception, agreed with the EU in 2022, capped gas-fired generation costs and ended in 2023; spot prices on OMIE now reflect normal EU-wide dynamics.
The country's seven nuclear reactors deliver ~20% of supply but are scheduled for phased shutdown between 2027 and 2035. Spain plans to triple solar capacity by 2030, reaching 76 GW, and add 23 GW of new wind.
The 2025 grid blackout — caused by a southern oscillation — accelerated investment in synchronous condensers and battery storage to stabilize the high-renewables system.