Spain electricity prices surge in early July 2026

On Sunday 5 July 2026 Spain’s wholesale electricity price (the reference for regulated PVPC tariffs) rose to 63.81 €/MWh, a 30.6 % increase over the previous day and roughly 79 % above the same date a year earlier. The cheapest hour was 09:00‑10:00 with a price of 0.0267 €/kWh, while the most expensive period was 22:00‑23:00 at about 0.219 €/kWh.

The day before, 4 July, the median price was higher at 126.26 €/MWh, and on Monday 6 July the market is expected to jump another 57 % to above 100 €/MWh. Analysts attribute the volatility to a heat wave driving air‑conditioning demand, reduced wind generation, and higher gas‑fuel and CO₂‑emission costs that push marginal plants up the price stack.

Consumers are advised to shift electricity‑intensive activities to the mid‑day valley (approximately 09:00‑12:00) or the early‑morning window (00:00‑06:00) to avoid the 20:00‑22:00 peak, where prices can exceed 80 €/MWh. The surge reflects broader European energy‑market pressures and is likely to influence household electricity bills throughout July.