2023 Industrial electricity price of 0.17 €/kWh represents a fall of 34 percent against the previous year, after two years of atypically high electricity prices, following the invasion of Ukraine. For most of the past decade, prices have been between 0.10 and 0.12 €/kWh.
The 2023 figure is 29 percent lower than the European Union’s average of 0.23 €/kWh—the biggest gap registered in the past decade. For household electricity prices, this difference is explained by lower gas prices and the bet on renewable sources of energy.
According to Eurostat data, Spain is in line with the European Union in terms of taxes, with 17 percent of the price being VAT and other recoverable taxes and levies.
