Cheapest Energy Provider in Spain 2026
Moving to Spain means navigating a new energy market, and choosing the right electricity provider can save you hundreds of euros annually.
I’ve been through this myself, and comparing so many energy providers can be a pain in the ass, to be honest.
Here are my recommendations after living 6 years in Madrid!
Find the Cheapest Energy Tariffs
There are two types of tariffs in Spain.
Fixed rate tariffs charge the same price per kWh regardless of when you use electricity, while time-of-use tariffs offer cheaper rates during off-peak hours (nights and weekends) but charge more during peak daytime hours, rewarding those who can shift their consumption to save money.
Cheapest Fixed Rate Tariffs (24h Single Price)
- Octopus Energy leads with the lowest monthly bill at €46.77 (€0.1192/kWh) with no permanence and 100% renewable energy.
- TotalEnergies offers €0.1190/kWh with 12-month price lock and estimated bills of €55-58/month
- Naturgy charges €0.1191/kWh with 12-month fixed rates and bills around €52-55/month
- Repsol has slightly higher rates at ~€0.125/kWh with Waylet discount benefits and bills of €54-57/month
- Holaluz ranges €0.120-0.130/kWh with 100% renewable energy and bills of €53-56/month
Time-of-Use Tariffs (Peak/Mid/Valley Periods)
- Octopus Energy offers the cheapest option at €46.13/month with valley rate of €0.0790/kWh – best for night/weekend users
- Naturgy comes second at €48.57/month with €0.0823/kWh valley rate – ideal for night consumption and heat storage
- Repsol charges €0.1299/kWh during valley with bills around €52-55/month – good for moderate night usage
- TotalEnergies offers ~€0.095/kWh valley rate with flexible scheduling benefits and bills of €51-54/month
- Holaluz has ~€0.100/kWh valley rate, best suited for weekend users with bills of €53-57/month
- Valley hours: Mon-Fri 00:00-08:00 plus all weekends/holidays (cheapest rates)
Best Energy Providers in Spain
Octopus Energy has quickly become a favorite among expats and Spanish residents alike. If you come from the UK, you probably know this energy provider.
Beyond competitive rates, they’ve earned a stellar reputation for exceptional customer service.
Their support team is notably reactive and helpful—a crucial factor when you’re settling into a new country and may need assistance in English. New customers can currently benefit from a €50 promotion, making the switch even more attractive!
Holaluz focuses on 100% renewable energy at competitive prices, with transparent pricing and no permanence commitments. They’re particularly popular with environmentally conscious consumers.
Naturgy (formerly Gas Natural) offers bundled electricity and gas packages that can deliver significant savings if you need both services.
Repsol leverages its existing infrastructure to provide competitive rates, especially in urban areas, and frequently runs promotional campaigns for new customers.
TotalEnergies has entered the Spanish market aggressively with some of the lowest rates available, though their customer service can be less personalized than smaller providers.
Tips to Switch of Energy Provider
The switching process in Spain is straightforward and typically takes 2-3 weeks. You’ll need your CUPS code (a unique 20-22 digit identifier for your supply point), which you can find on any previous electricity bill.
The new provider handles the entire switching process: you don’t need to contact your old supplier.