As other world leaders panic over rising fuel costs, Sánchez says Spain is less at risk because it has shifted so quickly to renewable energy such as solar, wind and hydroelectric power. Last Saturday, for example, electricity in Spain cost roughly seven times less than in France and Germany, Sánchez said. During colder times of the year, renewables are insufficient for the electric grid. In the wholesale energy market, prices are set by the cost of the last energy source that is introduced to the electric grid. Spanish electricity bills are also inflated by taxes and charges that are levied to keep the electric grid running and safe, the professor said.

Source: The Irish Times March 20, 2026 12:02 UTC