Spain's electricity market sees sharp price swings in August 2026
On Sunday 2 August 2026, OMIE data show an average electricity price of 106.20 €/MWh. The cheapest hour was between 13:00‑14:00 at –0.22 €/MWh, while the most expensive hour was between 22:00‑23:00 at 205.23 €/MWh.
The previous day, Saturday 1 August, prices ranged from a low of 0.44 €/MWh at 15:00‑16:00 to a peak of 194.53 €/MWh at 21:00‑22:00.
On Friday 31 July, the market recorded a low of 69.93 €/MWh at 15:00‑16:00 and a high of 178.97 €/MWh at 07:00‑08:00.
Analysts note that July 2026 saw a roughly 50 % increase in the wholesale electricity price (average 104.75 €/MWh) driven by a heatwave‑induced demand surge, higher reliance on gas‑fired combined‑cycle plants, and rising gas prices after the Gulf of Oman conflict. The volatility highlights the benefit of shifting consumption to the midday low‑price window.
Entities: Grupo ASE · Gulf of Oman gas conflict · MIBGAS · OMIE (Operador del Mercado Ibérico de Energía) · Red Eléctrica de España · Spain · Spanish electricity market · TTF · heatwave of July 2026