Spain’s electricity bills have fallen while many other countries have seen a rise since the energy crisis caused by the outbreak of the Iran war.
New analysis shows that households have each saved €10 per month on their electricity bills since the Hormuz strait was effectively closed in March. Thanks to the country’s commitment to the clean energy transition, renewables have reduced the influence of fossil fuels on the electricity price by 75 per cent since 2019.
Gas is typically the most expensive source of electricity and raises electricity prices in any hour it is used for power. In Spain, the influence of gas on power pricing has fallen to only 9 per cent of hours since the beginning of 2026, down from 52 per cent of hours in 2021, according to analysis from independent energy think tank Ember. This is mainly thanks to the boom in wind and solar energy, which grew by 37 per cent from 2021 to 2025.
“Wind and solar growth are acting as a shield against the price impacts of global instability,” says Chris Rosslowe, author of the report. “While gas prices spike, renewables are keeping power bills down for Spanish households and businesses.”
Spain has quickly moved away from coal and towards solar and wind
