Overview

• On April 19, 2025, Spain's wholesale electricity prices averaged a historic low of 1.72 €/MWh, the lowest in a year, with nine hours of negative pricing and two hours at zero cost.
• Negative pricing dipped as low as –4 €/MWh during the afternoon on April 19, an unusual occurrence in the electricity market.
• On April 20, prices partially rebounded to an average of 10.71 €/MWh but still featured nine hours of zero or negative pricing, with rates reaching as low as –4.99 €/MWh.
• The regulated tariff (PVPC) incorporates futures market references, now weighted at 40%, along with fixed system costs, ensuring pool prices do not directly translate to consumer bills.
• Despite April's low daily averages, the monthly wholesale electricity price remains significantly higher than April 2024's average of 5.87 €/MWh.