Spain's wholesale electricity price will average 201.99 euros per MWh on Tuesday, the highest daily level since December 2022. Rising gas costs and stronger demand are pushing the market higher.
On Tuesday, the OMIE daily auction will set Spain's wholesale electricity price at 201.99 euros per megawatt hour. That is 2.6% above Monday's 196.88 euros/MWh and the highest daily average since 5 December 2022, when the price reached 209.3 euros/MWh. Europa Press reported the figures from the Operador del Mercado Ibérico de Energía, or OMIE.
The evening peak will carry the heaviest cost. Electricity will reach 281.31 euros/MWh between 21.00 and 22.00. The day's lowest price will be 147.09 euros/MWh between 16.00 and 17.00.
Spain’s gross electricity demand reached 22,014 GWh in September, up 5.7% from a year earlier, according to figures published with reference to system operator Redeia.
The gap is wide. Prices rise when demand calls for more expensive generation outside the hours of strongest solar output. Once the sun goes down, a large share of renewable power no longer prevents costly hours.
Industry sources cited by Europa Press point to stronger demand and higher gas costs as the main drivers. On Monday, Spain's Mibgas reference price rose to 75.25 euros/MWh. Gas-fired combined-cycle plants can set the marginal price when renewable output cannot cover expected demand.
The wholesale market does not give every technology the same fixed price. Producers submit offers, while buyers submit orders in a daily auction. An algorithm ranks the offers from the cheapest to the most expensive. The highest offer needed to meet demand sets the final price.
Renewable sources generated 12,215 GWh in September and accounted for 50.9% of Spain’s monthly electricity mix. The figure underlines that substantial renewable output can coexist with expensive evening periods when solar generation falls and demand remains high.
That system explains the sharp changes within a single day. Renewable power usually enters the auction at a lower cost. Natural gas and other fossil-fuel generation cost more, and they can set the final market price when the system needs them.
Demand has also been rising across the year. Gross electricity demand reached 198,105 GWh from January to September, up 3.2% from the same period a year earlier. September alone recorded 22,014 GWh. The daily jump is not an isolated price move, although weather and available generation can still change the auction quickly.
That distinction matters. The 201.99 euros/MWh figure is not a household's full electricity bill. Peajes charges and system adjustments must be added to the wholesale price. Consumers on the regulated PVPC tariff are exposed to the market, but their bills do not move in a simple one-to-one way.
No new official estimate from Spain's CNMC or Ministry for the Ecological Transition has set out the exact effect of this single-day increase on household bills.
Since 2024, PVPC has used a formula that combines short-term prices with references from medium- and long-term markets. The formula is meant to reduce sharp swings while keeping a link to immediate prices. That link encourages more efficient electricity use. From 2026, the futures-market reference will account for 55% of the calculation.
The rise mainly affects the roughly eight million households covered by the regulated PVPC. The market effect reaches them directly. Customers on the free market instead pay under the terms agreed with their supplier.
September was already costly for Spain's electricity market. Its average price reached 143.26 euros/MWh, the highest monthly level since 2022. The figure was 21.1% above August and 134.7% higher than September 2025.
The hourly maximum cited here comes from the OMIE hourly table. One independent report gave a lower evening figure of 271.62 euros/MWh. That difference needs caution until it is clear whether it came from a data update, rounding, or a different zone or publication version.
The market has returned to levels not seen since late 2022. PVPC softens part of the shock through its futures component, while free-market customers depend on their individual contracts.
For PVPC households, the message is direct. Evening use will be the most expensive part of Tuesday's market. Gas can set the price after solar output falls, and higher demand can push the auction further upward. The squeeze is already visible in the market data.
