Electricity prices in Spain edged higher on Thursday, April 23, 2026, with the wholesale market averaging 49.08 euros per megawatt-hour, according to data from the Iberian Energy Market Operator (OMIE). This marks a modest increase of 0.16% from the previous day’s level of 49.00 euros/MWh, continuing a trend of gradual upward pressure on energy costs.
The rise comes amid ongoing international tensions in the Middle East that have contributed to higher natural gas prices, which in turn influence electricity generation costs across the Iberian Peninsula. Even as the wholesale increase remains small, it feeds into the regulated market where final consumer prices are determined, affecting households on volatile tariffs.
Despite the overall uptick, significant variations persist throughout the day, creating clear opportunities for cost-conscious consumers. The most expensive electricity is expected between 9:00 p.m. And 10:00 p.m., when prices peak at 89.47 euros/MWh. In stark contrast, the lowest rates occur in the mid-afternoon, with the period from 3:00 p.m. To 4:00 p.m. Reaching a low of -0.81 euros/MWh — meaning producers effectively pay to offload excess supply during those hours.
Negative pricing, which appears across five hourly intervals on Thursday, reflects periods of high renewable generation — particularly from wind and solar — when supply exceeds immediate demand. From 11:00 a.m. To 5:00 p.m., prices remain at or below zero, offering a wide window for running energy-intensive appliances such as washing machines, dishwashers, or electric vehicle chargers at minimal or even negative cost.
Outside this window, prices initiate to climb again, rising above zero after 5:00 p.m. And increasing steadily through the evening. Consumers on time-of-use tariffs are advised to shift discretionary usage to the afternoon window to avoid the higher costs associated with morning and evening peaks.
While the average price remains below the psychologically significant 50 euros/MWh threshold, the persistent volatility underscores the growing importance of timing in household energy management. As renewable output continues to fluctuate, daily price swings are likely to remain a defining feature of the Spanish electricity market, reinforcing the value of smart consumption habits and flexible tariffs.
