DEMAND 2025
Final demand: IRE
Information based on provisional data as of January 2026
Consumption increased, particularly in the second and third quarters, with declines in February, April, and October. The services sector experienced strong growth.
The evolution of the IRE during 2025 was positive, with all sectors showing signs of recovery, despite geopolitical uncertainties.
In 2025, the overall IRE was 1.8% higher than the previous year, marking the second consecutive year of positive increases. The index stands at 114.4, higher than last year's figure, 112.5.
This increase was driven by all components. The situation has developed as follows:
- The services sector recorded the largest increase, at 3.9%. Its performance strengthened particularly from summer onward, consolidating its role as the main driver of index growth.
- Industrial activities increased by 1.1%, with occasional declines in spring and early autumn.
- The group comprising other activity sectors also recorded an increase, with a 0.7% variation compared to the previous year, albeit it showed a more irregular pattern.
Breakdown of the General IRE
Annual evolution of the variation in gross IRE
Temperatures had a positive impact on the evolution of the index, increasing it by 1.2 percentage points. By major sector groups, services and other sectors experienced the most significant impact. In these industries, temperatures contributed to its evolution by 1.8 and 1.6 points, respectively.
In 2025, the composition of the calendar had a negative effect, while the evolution of temperatures had a positive impact on the IRE's development.
Temperatures positively impacted the evolution of the index, reducing it by 1.2 percentage points. June was particularly affected, with temperatures increasing the index by 7 percentage points, while both September and October saw an increase of 3.1 and 2.1 percentage points, respectively. In July, subtracted 0.6 percentage points from the index variation. By major group sector groups, the most significant impact concerned services, where temperatures had a positive contribution of 1.8 points, followed by other sectors, where temperatures contributed 1.6 points to the evolution of the index, and industry, where the contribution was added 0.9 points.
IRE: breakdown of the variation in 2025
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The monthly evolution of the adjusted index began 2025 with growth, weakened in spring, and rebounded starting in summer, closing the year with a clear recovery in November and December.
The year 2025 is characterised by sustained dynamism in the Spanish economy. In this context, the evolution of the general adjusted IRE index is marked by an overall positive trend, although with notable heterogeneity throughout the year. The year began with moderate growth rates, which weakened during the spring months, before returning to a recovery path from summer onward. This improvement consolidated in the final months, with particularly strong growth in November and December, which allowed the year to close with a clearly favourable balance.
The monthly analysis shows an irregular pattern. After a solid start in January, the index evolution corrected in February and rebounded in March. Spring displayed weaker dynamics, with significant declines in April and almost no growth in May. June marked a turning point and recorded the highest growth of the year. From that point, demand maintained positive momentum, though at varying intensity, with another weak period in August and subsequent recovery in September and November, while December closed with strong growth.
From a sectoral perspective, the services sector showed the greatest dynamism throughout the year, especially from summer onward, while much of the index’s growth was concentrated in the second half of the year. Industry showed positive growth as well, though more moderate and volatile, alternating months of progress with occasional setbacks, mainly in spring and early autumn. The aggregate of other activities shows a more irregular pattern. While it contributed positively overall throughout the year, it experienced greater fluctuations than the other sectors.
Monthly evolution of the variation in adjusted IRE
As for the overall trend, the adjusted IRE maintained a clearly positive pattern throughout 2025, although with a more moderate trajectory as the year progressed. The general index began the year with solid growth, which gradually eased during the middle months, particularly from spring, entering a deceleration phase that lasted until the end of summer. Despite this moderation, the indicator did not register any negative values during the year.
From September onward, the trend stabilised, with contained values at the start of autumn, followed by a clearer recovery in the final two months of the year. This final improvement allowed the year to close once again with an upward trend, although without reaching the intensity of the first months of the year. This reflects a more balanced growth that is less concentrated in isolated episodes.
The industrial sector showed a trend evolution very similar to that of the general index, though with greater volatility. After a start to the year with clearly favourable rates, industrial activity gradually lost momentum during spring and summer and reached its lowest values in early autumn. From that point, the sector began a progressive recovery, which intensified in November and December, to close the year with a positive trend, albeit still below the most expansive levels recorded at the beginning of the year.
The services sector behaved differently. After a start to the year with moderate gains, it maintained a more stable trajectory during the central months, avoiding the declines seen in other sectors. In the year’s final months, the services sector experienced a more pronounced acceleration, especially in November and December, positioning itself as the primary contributor to the index’s growth at year-end.
Meanwhile, the aggregate of other activities displayed a more irregular pattern throughout the year. Following a start with moderate positive rates, the trend gradually weakened, approaching near-stability by the end of summer and the start of autumn. In the final months of the year, a modest recovery was observed. It was less pronounced than in industry and, particularly, in the services sector, which resulted in a more limited contribution to the overall index.
Monthly trend of the adjusted IRE
At the peak hour of the day of the year with maximum hourly demand, the residential sector accounted for 39% of consumption, while the industry sector of the IRE accounted for 20% of consumption, the large services sector (IRE) stood at 10% and small businesses and services stood at 16%.
At the peak hour of the day of the year with maximum hourly demand, the residential sector accounted for 39% of consumption, while the industry sector of the IRE accounted for 20% of consumption, the large services sector (IRE) stood at 10% and small businesses and services stood at 16%. Throughout the peak day, the greatest share of the industrial sectors was in the early hours of the morning, but it is especially between 3 and 5 hours that it reaches a maximum share of electricity demand at busbars of slightly over 31%, while for large services, the most important time period is between 13 and 17 hours, with shares of consumption of around 13%.
Breakdown of maximum hourly electricity demand, 16 January 2025
Hourly profiles applied to the general low-voltage electricity tariff with a contracted power equal to or less than 15 kW.
At the peak hour of the day of the year with maximum hourly demand, the industrial sector behaves similarly. However, for large services, the most important period is from 7 to 12 hours, with consumption reaching 13% between 8 and 10 hours.
Breakdown of the maximum hourly electricity demand in summer, 2 July 2025
Hourly profiles applied to the general low-voltage electricity tariff with a contracted power equal to or less than 15 kW.
Electricity demand
Annual maximums
Electricity demand
Demand evolution