Electricity prices in Spain rose back to above EUR 130 per megawatt hour, the highest since the beginning of January. Still, they remained well below the record EUR 545 hit in March due to larger wind energy production and lower demand. Governments from Spain and Portugal have recently asked the EU to extend a cap on electricity prices, which is currently set to end on May 31st, until the end of 2024. The two countries have benefited from an agreement that separates the price paid for natural gas used in the energy mix from that paid for the less costly sources like solar, nuclear, or hydroelectric power. In the absence of the ‘Iberian exception’, the cost of electricity in Spain would be around EUR 150.81 per megawatt hour on average.

Electricity Price in Spain averaged 51.72 EUR/MWh from 1998 until 2023, reaching an all time high of 544.98 EUR/MWh in March of 2022 and a record low of 0.79 EUR/MWh in March of 2013. This page includes a chart with historical data for Spain Electricity Price. Spain Electricity Price - data, forecasts, historical chart - was last updated on March of 2023.

Electricity Price in Spain is expected to be 40.15 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Electricity Price is projected to trend around 2.18 EUR/MWh in 2024 and 0.68 EUR/MWh in 2025, according to our econometric models.

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Spain Electricity Price

Price Day Month Year
UK Electricity 108.76 2.11 1.98% -13.41% -50.65%
Germany Electricity 116.54 3.39 3.00% -19.24% -57.00%
France Electricity 196.75 1.22 0.62% 19.13% -0.29%
Spain Electricity 119.34 0 0% -10.05% -48.50%
Italy Electricity 138.23 7.36 5.62% -15.09% -45.09%

Spain Electricity Price
Electricity prices displayed in Trading Economics are current spot benchmarks offered by sellers to buyers priced in megawatts per hour (MWh) in the local currency. Our electricity prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
119.34 119.34 544.98 0.79 1998 - 2023 EUR/MWh Daily