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Spain has secured approval from the European Commission for a €9 billion power capacity mechanism aimed at ensuring long-term electricity security and grid reliability. The scheme will run for ten years from 2026 and is designed to guarantee sufficient capacity for electricity generation, storage, and flexible consumption during periods of supply stress.
Under the mechanism, Spain's transmission system operator will compensate eligible projects that remain available during periods of electricity scarcity. The initiative will be open to existing and new power generation assets, energy storage facilities, and demand-response projects, with beneficiaries selected through competitive auctions. The programme is expected to allocate around €900 million annually, totaling approximately €9 billion over the decade.
The European Commission concluded that the measure is necessary and proportionate to maintain security of electricity supply while supporting Spain's energy transition goals. Industry stakeholders believe the scheme will encourage investment in flexible power resources and strengthen the country's energy infrastructure amid growing renewable energy integration. For energy-intensive sectors such as steel manufacturing, improved grid stability and enhanced power availability could provide long-term operational benefits and support industrial competitiveness.
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