Voluntary price for small consumers

The VPSC broadly follows the trend of the day-ahead market price, with peaks in the winter months, a clear decline in spring, and a rebound in the second half of the year. However, the VPSC is systematically higher than the day-ahead market price, which reflects the inclusion of other regulated and ancillary costs.

The biggest differences between VPSC and the day-ahead market are observed in the spring months (April and May), when prices in the day-ahead market reach their lowest levels, while the VPSC remains relatively high. During these months, the gap exceeds €80–90/MWh, clearly highlighting the weight of components other than energy costs in the wholesale market price.

The price of surplus energy from self-consumption is very similar to that of the day-ahead market.

Evolution of the VPSC (general tariff 2.0 TD), day-ahead market, and surplus energy from self-consumption

From January onwards, VAT returns to 21%, the electricity tax remains at 5.11%, and changes are applied to regulated charges and network tariffs. Compared with 2024, charges increased by 32.8%, while tariffs increased during peak periods, but decreased during off-peak and shoulder periods. The reductions are more significant during off-peak periods.

To monitor the cost of the regulated tariff, a comparison will be made considering a contracted power of 4.6 kW and a consumption of 3,900 kWh/year, with the consumption scenario published on the CNMC website, which has a distribution of 45% on off-peak hours, 26% on standard hours and 29% on peak hours.  The total cost of this bill for the entire year 2025 is €885, higher than the €774 recorded the previous year.

It is the fifth cheapest for the year if prices are considered at current values and, considering the real cost of each year (without updating to 2025 prices), it is the fourth cheapest, after 2024, 2023 and 2020.

Of the €885 that this typical customer would pay for their electricity consumption in 2025, €416 corresponds to the cost of energy (47% of the bill), with 1% of this corresponding to the futures basket term; €280 (32%) corresponding to the regulated part of system charges and tariffs, and the remaining €189 (21%) corresponding to taxes. 

Throughout 2025, the VPSC remained above 2024 levels for almost the entire year, with only partial convergence in the final months.

Evolution of the cost of the electricity bill