The price of electricity will skyrocket this Monday, October 19, to 215.11 euros per megawatt hour (MWh), reaching its annual maximum of 2026. The increase represents a rise of 182% compared to the 76.28 euros/MWh recorded this Sunday, according to data from the latest auction of the Iberian Energy Market Operator (OMIE), collected by the EFE Agency. The spike coincides with the start of the week, when electricity demand usually increases after a weekend characterized by lower consumption.
It will be the second occasion this year that the wholesale market exceeds 200 euros/MWh, after the threshold was surpassed for the first time on October 6. To find similar prices, one must go back to 2022, when the Russian invasion of Ukraine caused an energy crisis that drove up gas and electricity prices in Europe.
The increase also comes in a meteorological context marked by DANA Adam, which has issued warnings for heavy rains in various autonomous communities and is affecting solar energy production.
What time will electricity be more expensive and cheaper this Monday
The price of electricity will register significant differences throughout the day, although even during the cheapest hours it will remain at high levels. According to OMIE data, the most expensive hour will be at 21:00, when the megawatt hour will reach 299 euros, coinciding with one of the periods of highest domestic consumption.
On the contrary, the minimum price will be recorded at 13:00, at 168.50 euros/MWh. Despite being the cheapest segment of the day, its price will be more than twice the average price recorded this Sunday.
The difference between both extremes will be 130.50 euros/MWh, so concentrating electricity consumption during the central hours of the day can help reduce the cost of certain activities, especially in households with rates linked to the hourly evolution of the market.
However, these amounts correspond to the wholesale market and not to the final price that appears on consumers' bills, where other regulated concepts, marketing costs, and taxes come into play.
The DANA Adam and the rise in gas explain the increase in prices
Behind this increase converge several factors. One of the main ones is the reduction of photovoltaic production as a consequence of cloudiness and storms associated with DANA Adam. In recent months, high solar generation had contributed to contain wholesale market prices, especially during the central hours of the day.
However, adverse weather conditions have limited that contribution, increasing the need to resort to other technologies to cover electricity demand. This circumstance is compounded by the rise in gas prices in international markets, related to the war in Iran, which is also putting pressure on generation costs.
The situation does not only affect Spain. According to data published by EFE, France will register an average price of 221.77 euros/MWh this Monday, Germany will reach 208.44 euros/MWh, and Italy will arrive at 262.63 euros/MWh. These figures reflect an episode of high prices in several of the main European electricity markets.
How the increase affects the electricity bill and consumers with PVPC
The increase in the wholesale market is particularly relevant for consumers under the Voluntary Price for the Small Consumer (PVPC), the regulated tariff whose evolution partially depends on the daily electricity prices.
However, the current system incorporates mechanisms aimed at reducing price fluctuations. From January 1, 2026, the wholesale market represents 45% of the PVPC formula, while the remaining 55% is linked to forward electricity markets. This distribution aims to prevent sharp movements from a single day from being fully transferred to the bills.
According to the latest data from the National Commission on Markets and Competition (CNMC), at the end of 2025 there were 8.2 million consumers under the regulated tariff, equivalent to 27.4% of the total. The remaining 72.6% were in the free market, where conditions depend on the contract signed with each retailer.
Therefore, the 182% increase in the wholesale market does not mean that the household bill will increase by the same percentage. Its impact will depend on the tariff modality, the consumption made, and the particular conditions of each contract. Meanwhile, the price this Monday will mark a new high for 2026 and will again place the cost of electricity among the main concerns of consumers.