Report · June 2026 · With Fundación Renovables · In Spanish
How much energy and money Spain could save by electrifying its energy system to the level of Europe’s most advanced countries. The full report, Del shock fósil a la soberanía energética, is in Spanish.
Instituto Meridiano and Fundación Renovables
June 2026
The world is going through its second major energy shock in barely four years.
The war in Iran has led to the almost complete closure of the Strait of Hormuz. The blockade of this shipping route is already a major global crisis, with widespread price rises and rationing in many countries, especially in Asia. If the crisis continues unresolved, we will face an unprecedented shock, dwarfing the famous oil crises of the 1970s.
Europe, and therefore Spain too, once again faces unresolved dilemmas. Although the region depends heavily on imported fossil fuels, it has enough financial muscle to outbid almost everyone else on international markets. The worst consequences —rationing, deprivation for large parts of the population— seem reserved for others. Even so, an energy shock that grows large enough will bring an inflationary crisis that is hard to manage.
A new agenda of accelerated renewable deployment and decarbonisation of energy use is back on the table. In this report, prepared with Fundación Renovables, we show how a deep push on electrification, simply to the level of Europe’s leading countries, could bring large financial savings, greater security of supply and a sharp cut in greenhouse gas emissions.
