Spain electricity prices plunge in late June 2026

On Saturday 20 June 2026 the Iberian wholesale electricity market recorded an average price of 66.35 €/MWh, 22.2 % lower than the previous Friday, and a negative price of ‑0.02 €/MWh between 13:00‑14:00. The next day, Sunday 21 June, the regulated PVPC tariff fell to a daily average of 0.0918 €/kWh – around 30‑35 % below the typical June level – with the cheapest hour at 0.0259 €/kWh around 14:00. The drop is attributed to lower industrial activity on the weekend and abundant solar generation during midday, while nighttime demand for air‑conditioning pushes prices higher. In parallel, Algeria has overtaken the United States as Spain’s main natural‑gas supplier in 2026, providing about one‑third of Spain’s imports, driven largely by the Medgaz pipeline and LNG shipments.