Iberian electricity market sees high price spikes on July 22‑23, 2026

The Iberian electricity market reported sharply higher wholesale prices on consecutive days in July 2026. On 22 July, the reference price from the market operator OMIE was 303.02 €/MWh, while on 23 July it rose to 320.79 €/MWh. In both cases the most expensive hourly slot occurred between 22:00 and 23:00, with consumer rates climbing to about 251 €/kWh on the 22nd and to 320.79 €/kWh on the 23rd. The cheapest periods were 08:00‑09:00 on 22 July (166 €/kWh) and 01:00‑02:00 on 23 July (174 €/kWh). Consumers were advised to shift the use of high‑consumption appliances such as washing machines, dishwashers and ovens to the low‑price windows to reduce electricity bills.