Monthly electricity market report · MIBEL

Iberian electricity market — December 2025

Day-ahead price, demand and generation mix · ESIOS and OMIE data

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Average price

77.9 €

▲ +32.8% vs November 2025

Average demand

28.9 GW

▲ +6.5% vs November 2025

Renewables

51%

▲ +1 pp YoY · CO₂-free 72%

Negative periods

YoY

Day-ahead market price

The day-ahead market averaged 77.9 €/MWh, +32.8% versus November 2025. In perspective it sits −2.1% against the 11-year December average (79.6 €/MWh): a broadly normal month. The year-on-year figure (−30% vs December 2024) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → 1 €/MWh · 158 €/MWh

1 €/MWh

158 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 28.9 GW, +6.5% on November 2025 and +6% YoY, peaking at 38.3 GW.

Hour · GW

Generation mix

On about 22.8 TWh scheduled (P48), renewables made up 51% and CO₂-free generation 72%.

Generation mix

Eólica

Nuclear

Ciclo combinado

Hidráulica

Solar fotovoltaica

Cogeneración

Wind

24.6% +7%

Nuclear

21.1% +13%

CCGT

18.5% −5%

Hydro

14.2% +28%

Solar PV

10.5% −6%

Cogeneration

6.2% −6%

Other renewables

1.6% +3%

Pumped-storage

1.4% +22%

Fuel / gas

1.1%

Other

0.4% +24%

Solar thermal

0.3% −55%

Coal

0.2% −85%

Historical context

239

111

December · €/MWh

Methodology

Price: ESIOS indicator 600 (Spain). Demand: ESIOS indicator 1293 (peninsular). Mix: P48 schedule by technology (REE/ESIOS), best estimate at month close — metered generation is published later; the check against the most recent metered month shows differences below 1%. Peninsular scope, full calendar month.