Endesa locks electricity prices for up to five years
Endesa customers can now fix the price of electricity for three or five years, after the supplier launched two new deals on 18 September. The tariffs, named Luz 24h a 3 años and Luz 24h a 5 años, extend the company’s previous one-year fixed-price offer.
The move is aimed at giving households and small and medium-sized businesses more certainty over their energy spending while markets remain unsettled. Endesa says customers can choose the length that suits their needs.
Gas and wholesale power costs rise
Europe’s main gas benchmark, TTF, rose 15.8% in August to an average of 61.46 euros per megawatt hour (MWh). It was the highest monthly level since January 2023.
The increase fed through to Spain’s wholesale electricity market, where the average August price reached 118.25 euros/MWh. That was 12.9% higher than in July and 72.8% above the same month a year earlier.
Endesa links the pressure to geopolitical escalation and uncertainty over liquefied natural gas passing through the Strait of Hormuz. Futures markets also point to continued high prices in the final months of 2026.
A fixed rate, not a flat bill
The deals keep the price per kilowatt hour (kWh) unchanged for the agreed term. But the total bill will still depend on how much electricity is used.
Other previously stated charges can also alter the final amount, including balancing services, taxes and regulated components. The new tariffs are therefore not an unlimited-use electricity deal.
Source: Europa Press / Mallorca.com