Household electricity prices fell 25 percent in 2023 versus the previous year (which was the all-time high in the last decade, provoked by the energy crisis that followed the invasion of Ukraine). Besides the 2022 spike, electricity prices have been relatively stable around 0.23 €/kWh.
Spain moved from having household electricity prices 10 percent higher than the European Union (on average, in the last decade) to 17 percent cheaper in 2023. This is mostly explained by lower gas prices (imported from Argelia) and the investment on renewable sources of energy.
According to Eurostat data, taxes were 12 percent of electricity prices in 2023, lower than the 20 percent of the European Union’s average. Taxes have seen a considerable decrease—from 37 percent and 38 percent in Spain and the European Union in 2021, respectively.
