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The Spanish electricity market is a complex system that organises the generation, distribution and sale of electricity so it can reach our homes and businesses.
Understanding how this market works is important for consumers, as it directly affects the price they pay for electricity and the options available when contracting services adapted to their needs.
In this article, we explain how the electricity market works in Spain, from the role of each market participant to how the price of electricity is determined.
The Spanish electricity market is made up of different participants, each with a specific role in the process of generating, distributing and selling electricity.
Below, we explain the main players involved.
Electricity generators are the companies responsible for producing electricity from different energy sources, such as renewable energies (solar, wind or hydropower) fossil fuels, including natural gas and coal, or nuclear energy.
These companies sell the electricity they produce on the wholesale market.
Electricity suppliers buy electricity on the wholesale market and sell it to final consumers, whether households or businesses.
They offer different tariffs and services and are the direct point of contact for customers.
There are two types of electricity suppliers:
The Iberian Energy Market Operator, known as OMIE, is the organisation responsible for managing the wholesale electricity market in Spain and Portugal.
Its main role is to match electricity supply and demand, determining the electricity price for each hour of the day.
This is where generators and suppliers negotiate the price of energy. OMIE ensures that transactions are transparent and efficient.
Electricity distributors are responsible for transporting electricity from high-voltage networks, such as generation plants, to homes and businesses.
Although they do not interact directly with consumers in commercial terms, they ensure that electricity reaches users safely and efficiently. They also maintain and operate the infrastructure needed to guarantee electricity supply.
The electricity system operator coordinates the transport of electricity through high-voltage networks and ensures the balance between supply and demand in real time.
Its responsibility is to guarantee the security and continuity of the electricity supply. In the Spanish market, this role is performed by Red Eléctrica de España, or REE, which we explain in more detail below.
Consumers are the final link in the chain. They include everyone who uses electricity in homes, businesses and industries.
As consumers, they can choose the electricity supplier that best suits their needs and consumption habits.
Red Eléctrica de España, or REE, is Spain’s national system operator. It is the key company responsible for managing the high-voltage electricity transmission network and, therefore, for guaranteeing electricity supply to all consumers.
REE’s main role is to guarantee the continuity and security of electricity supply by ensuring that production and consumption are balanced at all times.
It also supervises the development of electricity infrastructure and promotes the integration of renewable energy into the system.
In other words, REE acts as the “conductor” of the electricity system, coordinating the production and transport of electricity. Its role is essential to prevent supply interruptions and guarantee the stability of the electricity system.
Red Eléctrica de España is a listed company. Its majority shareholder is the Sociedad Estatal de Participaciones Industriales, or SEPI, which controls approximately 20% of the shares.
This means that, although it operates as a private entity, it has significant State participation, reinforcing its commitment to the general interest.
The wholesale electricity market, also known as the power pool, is where generators and suppliers negotiate the price of energy. It is managed by the Iberian Energy Market Operator, or OMIE.
In this market, generators offer the electricity they produce and suppliers buy it to supply their customers.
The final electricity price in the wholesale market is determined through an auction system based on supply and demand, which varies every hour of the day, as well as the type of energy source used.
To better understand this concept, we recommend reading our article on the differences between the free market and the regulated market.
The process of bringing electricity from generation to the final consumer is complex and requires coordination between several participants.
Below, we explain each stage of this journey.
To manage the contract associated with this supply, the person responsible for the contract must be the account holder. If necessary, you can change the electricity supply account holder.