Brattle Consultants Discuss Spain’s Energy Regulation and Markets in Updated Book Chapter
Published in the 14th edition of Lexology In-Depth Energy Regulation and Markets Review
Spain’s new ambitious climate and energy targets make the country’s energy markets very active and attractive in the coming years. Developments in energy markets worldwide, and the regulatory interventions in Spain during 2021-2023 increased uncertainty and tempered investors’ confidence. The end of regulatory interventions, lower prices and sustained commitment to climate policies, restored confidence in 2024.
In a chapter included in the recent 14th edition of Lexology In-Depth’s “Energy Regulation and Markets Review,” Brattle Principals Dr. Pedro Marín and Dr. José Antonio García and Senior Associate Dr. Fernando Bañez provide an in-depth overview of the energy regulation landscape and energy markets in Spain. Since mid-2021, electricity and gas markets have shown a significant increase in prices, which prompted a response from the Spanish government to, until the end of 2023, intervene in energy markets in order to mitigate the impact on final customers. In 2024, energy prices returned to the levels prevailing before 2021. Nonetheless, the threat of high energy prices and Spain’s recent regulations and commitments incentivise the promotion of energy efficiency and independence in the European Union. The main challenges relate to regulatory stability, sufficient economic incentives and potential market limitations and shortcomings in the years to come.
The full chapter is available below.
