Monthly electricity market report · MIBEL

Iberian electricity market — May 2026

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

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Average price

54.2 €

▲ +27.8% vs April 2026

Average demand

27.2 GW

▲ +2.5% vs April 2026

Renewables

61%

▼ −2 pp YoY · CO₂-free 79%

Negative periods

349

▼ −63% YoY

Day-ahead market price

The day-ahead market averaged 54.2 €/MWh, +27.8% versus April 2026. In perspective it sits −1.6% against the 12-year May average (55.1 €/MWh): a broadly normal month. The year-on-year figure (+220.3% vs May 2025) is distorted by an anomalous base.

Hourly month heatmap

Hour ↑ · Day of month → -3 €/MWh · 188 €/MWh

-3 €/MWh

188 €/MWh

Daily average price comparison

Day of month · €/MWh

Demand

Peninsular demand averaged 27.2 GW, +2.5% on April 2026 and +12% YoY, peaking at 36.4 GW.

Hour · GW

Generation mix

On about 21.7 TWh scheduled (P48), renewables made up 61% and CO₂-free generation 79%.

Generation mix

Solar fotovoltaica

Nuclear

Eólica

Hidráulica

Ciclo combinado

Cogeneración

Solar térmica

Turbinación bombeo

Solar PV

28.6% +28%

Nuclear

17.3% +23%

Wind

15.7% −1%

Hydro

13.0% −25%

CCGT

11.3% −4%

Cogeneration

5.3% −3%

Solar thermal

2.6% +4%

Pumped-storage

2.3% +8%

Other renewables

1.5% −2%

Fuel / gas

1.2%

Other

0.8% +152%

Coal

0.4% −43%

Historical context

187

May · €/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.