The consequences of the conflict, Spain is the only one in the EU that is coping - Cheap bills thanks to investments in renewable energy
The Iran war has plunged the world into an energy crisis overnight. The closure of the Strait of Hormuz and reduced energy exports to the Middle East have raised fears of higher bills for already overstretched households.
But one European country is in a good position to withstand these shocks thanks to its investments in renewable energy.
Since 2019, Spain has doubled its wind and solar energy capacity, adding over 40 gigawatts - more than any other EU country except Germany, whose energy market is twice the size of Spain's.
As a result, the price of electricity in Spain is much less affected by the ever-fluctuating cost of gas, which rose by 55 percent the day after the start of the Iran war and continues to rise.
Experts agree that reliance on fossil fuel imports leaves countries dangerously exposed.
"The unrest we are seeing today in the Middle East makes it clear that we are facing a global energy system largely tied to fossil fuels - where supply is concentrated in a few regions and any conflict risks sending shockwaves through the global economy," says UN Secretary-General António Guterres.
According to Ember’s report, between 2020 and 2024, Spain “reduced its energy sector import bill more than any other EU country.” It did so by adding new solar and wind farms, which “avoided 26 billion cubic meters of gas imports at a cost of 13.5 billion euros.” Spain used no coal-fired electricity at all by August 2025. A stark contrast to just 10 years ago, when coal accounted for a quarter of Spain’s electricity.
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