Article published in El Mundo on 9 March 2026
Due to the instability in the Middle East, many of the energy companies’ offers have been withdrawn for the time being.
On 2 March, the conflict between Iran and the US began and gas prices started to rise; since then, the market price of gas has increased by more than 70%. After a week of conflict, on 9 March, wind power generation fell and, combined with increased gas-fired generation, this pushed the cost of electricity up to 120.MWh, 410% higher than at the start of the conflict.
The big question at the moment is how long the war and the blockade of the Strait of Hormuz – through which a quarter of the world’s natural gas (LNG) passes – will last.
Manuel Velázquez, Senior Partner at ERA Group Spain, explains: “This is no joke. In terms of oil, the blockade represents a severe supply shock: some 20 million barrels of oil are being lost daily, compared to 4.3 million during the Gulf War in the 1990s”
To continue reading, click here or on the image below: The conflict in Iran affects fixed electricity and gas tariffs
