Best Electricity Companies in Spain 2026: Comparing Prices and Plans

Spain has dozens of electricity providers competing for your business. Switching is free and takes about two weeks. Here’s how the major companies compare and how to choose the right one.

Two Types of Providers

First, understand the distinction:

Reference Marketers (Comercializadoras de Referencia) — These are the only companies that can offer the regulated hourly tariff. There are just a handful: Endesa Energía XXI, Iberdrola Comercializadora de Último Recurso, Naturgy Iberia, and EDP Comercializadora de Último Recurso.

Free Market Retailers (Comercializadoras Libres) — These companies offer fixed-rate and custom contracts. There are over 100 in Spain, including the major players and smaller independent companies.

The Major Players

Endesa

Spain’s largest electricity company. Offers both the regulated tariff (through Endesa Energía XXI) and free-market plans. Their “One Luz” plan is a popular fixed-rate option. Good customer service infrastructure with physical offices across Spain.

Iberdrola

The second largest provider and a global leader in renewable energy. Their “Plan Estable” offers a competitive fixed rate. Strong app and digital tools. Pioneer in smart meters and real-time consumption monitoring.

Naturgy

Formerly Gas Natural Fenosa. Strong in combined gas + electricity packages. Competitive pricing for customers who also use natural gas. Good coverage across all of Spain.

Repsol (Repsol Electricidad y Gas)

The energy giant entered the electricity market with aggressive pricing. Often offers some of the lowest fixed rates to attract new customers. Worth getting a quote from.

TotalEnergies

Another major player offering competitive fixed rates. Their plans are straightforward with few hidden costs. Good option for expats who prefer international companies.

EDP España

Portuguese energy company with a growing presence in Spain. Competitive rates and strong focus on renewable energy. Offers the regulated tariff through their reference marketer arm.

Newer and Independent Providers

Octopus Energy

UK-based company that entered Spain with innovative tariffs and strong tech. Known for transparency and customer service.

Holaluz

Spanish company focused on 100% renewable energy. Popular with environmentally conscious consumers. Offers solar self-consumption packages.

Pepeenergy

Low-cost provider with minimal overhead. Simple pricing with no frills. Can be a good option for price-sensitive consumers.

How to Compare Prices

The headline rate per kWh isn’t everything. When comparing, look at:

1. Energy rate (€/kWh) — the per-unit cost of electricity
2. Power charge (€/kW/day) — the fixed daily charge for contracted power
3. Contract length — 12 months is standard, some offer month-to-month
4. Permanence penalty — most don’t have one, but check
5. Additional services — maintenance insurance, smart home features, etc.

A provider with a lower €/kWh rate but higher power charges might actually cost more overall.

How to Switch Providers

1. Find your CUPS code on any electricity bill (starts with “ES”, 20-22 characters)
2. Compare offers from at least 3-4 providers
3. Contact your chosen new provider — they handle the entire switch
4. You don’t need to contact your old provider — the new one manages the transition
5. There’s no interruption in service — your lights never go off during the switch

The process takes about 1-2 weeks. There are no fees and no penalties (for most contracts).

Our Recommendation

There’s no single “best” company for everyone. It depends on your situation:

• Want the cheapest option and can shift usage? → Go with the regulated tariff through any reference marketer
• Want predictable bills? → Get quotes from Repsol, TotalEnergies, and Octopus for the best fixed rates
• Want green energy? → Look at Holaluz or Iberdrola’s renewable plans
• Have gas + electricity? → Naturgy’s combined packages often offer savings
• Just moved to Spain? → Start with the regulated tariff to understand your consumption patterns, then decide

The most important thing is to not stay on whatever contract the previous tenant had. Take 30 minutes to compare options — it could save you hundreds of euros per year.