Monthly electricity market report · MIBEL

Iberian electricity market — February 2026

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

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Average price

16.4 €

▼ −77.1% vs January 2026

Average demand

29.4 GW

▼ −4.2% vs January 2026

Renewables

65%

▲ +9 pp YoY · CO₂-free 84%

Negative periods

520

YoY

Day-ahead market price

The day-ahead market averaged 16.4 €/MWh, −77.1% versus January 2026. In perspective it sits −75.2% against the 12-year February average (66.2 €/MWh): a somewhat cheap month. The year-on-year figure (−84.8% vs February 2025) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → -4 €/MWh · 175 €/MWh

-4 €/MWh

175 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 29.4 GW, −4.2% on January 2026 and +3.7% YoY, peaking at 38.7 GW.

Hour · GW

Generation mix

On about 21.3 TWh scheduled (P48), renewables made up 65% and CO₂-free generation 84%.

Generation mix

Eólica

Hidráulica

Nuclear

Solar fotovoltaica

Ciclo combinado

Cogeneración

Wind

30.0% +70%

Hydro

21.4% +6%

Nuclear

18.8% −15%

Solar PV

11.9% −21%

CCGT

10.0% −14%

Cogeneration

2.9% −56%

Pumped-storage

1.9% +44%

Other renewables

1.1% −32%

Fuel / gas

1.0%

Solar thermal

0.7% −19%

Other

0.5% +60%

Coal

0.0% −100%

Historical context

200

133

108

February · €/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.