In 2024, the average electricity price reached €63.04/MWh, with peaks surpassing €100/MWh in the final months. According to specialists, volatility and dependence on gas are impacting energy competitiveness, while renewables are limited by the lack of storage capacity.

Energy consumption is growing in Spain, but not at the pace required to meet the targets set by the National Integrated Energy and Climate Plan (PNIEC), according to experts. The challenges include incentivising electrification, improving industrial competitiveness, and addressing curtailment through storage solutions and more flexible grids.

With 55.8% of the electricity mix generated from renewable sources in 2024, Spain is making progress in its energy transition. However, experts warn that limited electricity demand is preventing the full potential of renewables from being harnessed.

Hàjar El Mansouri, regulation specialist at RIC Energy and a speaker at El Ateneo de Madrid, promotes the energy transition through education, collaboration, and consensus, highlighting the importance of transparency, tangible benefits, and legal certainty in the renewable energy sector.

Electricity demand rises by 4% due to low temperatures. Gas combined cycles increase their activity by 91% to meet demand and compensate for low wind and nuclear production. They lead the mix and influence price-setting throughout the day. Forecast for the end of the month: below 100 €/MWh.