MARKETS 2025

Energy and prices scheduled for security reasons

Information based on provisional data as of January 2026

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The energy scheduled for the resolution of technical restrictions amounted to 31,529 GWh, 47.1% higher than in the previous year. A total of 83.8% of the total energy has been scheduled upward. This year, the upward energy scheduled increased by 39% compared to 2024, while the downward energy scheduled doubled.

The energy for restrictions to the daily base operating schedule (PDBF) was 21,340 GWh upward (57 % higher than the previous year) and 3,611 GWh downward (versus 1,717 GWh in 2024). The average value of the upward energy price in phase 1 was €165/MWh, 22.6% higher than last year, and the downward energy price in phase 1 was €22.6/MWh, 41.2% lower than the previous year. The prices for phase II (reconciliation) were €54.1/MWh for the upward price (51% lower than in 2024) and €53.9/MWh for the downward price (24.8% higher than the previous year). The impact on the average final price was €9.89/MWh, compared to €5.2/MWh the previous year.

The energy scheduled in phase I of PDBF technical restrictions corresponded mainly to combined-cycle generation (84.9%), followed by nuclear (5.5%) and both coal and steam turbine generation (4.4% each) on the upward side. The downward energy in phase I amounts to almost a sixth of the upward energy and corresponds largely to renewables (94% to wind power and solar energy). The upward energy scheduled in phase II corresponded mainly to cogeneration, wind power, and solar energy (54,9%), as well as storage (15.7% pumping consumption and 7.5% pumping generation / turbine operation), whereas downward energy for this phase corresponded mainly to renewable energies (wind power, solar energy, and hydroelectric at 76.5%).

The scheduled energy for real time restrictions amounted to 6,578 GWh, 7.3% more than the previous year's value. The remaining 77.4% corresponds to upward allocations and the remaining 22.6% to downward allocations. The impact on the average final price was €3.99/MWh, compared to €3.59/MWh the previous year.

Energy by restrictions to PDBF and real-time restrictions

Average weighted prices by restrictions to PDBF and real-time restrictions

€/MWh

Average weighted prices by restrictions to PDBF and real-time restrictions (€/MWh) | Electricity system: Peninsular.

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