Key facts
- Spanish households are saving approximately €10 per month on electricity bills due to increased renewable energy generation.
- Renewables have reduced the influence of fossil fuels on electricity prices by 75% since 2019.
- Gas influences Spanish power pricing in only 9% of hours, down from 52% in 2021.
- Wind and solar capacity increased significantly, contributing to lower overall electricity costs.
- Spain's early transition to renewables has provided a buffer against global fossil fuel price volatility.
Spanish households are saving approximately €10 per month on their electricity bills due to a significant expansion of renewable energy sources, according to a report by Ember. This shift has reduced the influence of fossil fuels, particularly gas, on pricing. Since 2019, the impact of fossil fuels on Spain's electricity price has dropped by 75%, with gas influencing pricing in only 9% of hours since early 2026, a substantial decrease from 52% in 2021. This is attributed to a boom in wind and solar energy capacity, which has shielded Spanish households from recent rises in fossil fuel prices. Burning fossil gas is one of the most expensive ways to generate electricity in Europe. While Spain and Portugal are benefiting from their early transition, the report notes that gas-fired power plants still set the price during key hours, and slow deployment of storage and limited flexibility in electricity demand are preventing the system from efficiently absorbing excess renewable generation.