After two years of high volatility in European energy markets, 2025 is showing signs of greater stability — but with important nuances that businesses must understand to manage their contracts intelligently.
The European context
The normalisation of the natural gas market in Europe, following the 2022-2023 shocks, has allowed a gradual decline in wholesale prices. Os armazenamentos europeus mantêm-se em níveis confortáveis, reduzindo o risco de picos de preço como os registados nos anos anteriores.
In the Iberian electricity market (OMIE), prices have reflected this trend, also benefiting from greater integration of renewable energy in Peninsular production — a factor that pushes prices down during periods of high wind and solar output.
"Stabilisation does not mean low prices — it means more predictable prices. For businesses, this is an opportunity to lock in favourable conditions over the medium term."
What changes for businesses in the Iberian Peninsula
For businesses in Low Voltage (LV) and Medium Voltage (MV), the main trends to watch in 2025 are:
- Network access tariffs: ERSE reviews these tariffs annually, and they represent a significant portion of the bill — typically between 40% and 60% of the total. The 2025 revisions should be closely monitored.
- Active energy prices: Prices in the free market remain negotiable, with room to obtain favourable conditions especially for consumers with stable profiles and significant volumes.
- Natural gas: Following the sharp price drop in 2023-2024, the gas market is showing greater stability, making this a good time to renegotiate contracts that may have been signed under less favourable conditions.
Opportunities to act now
The current window of relative stability represents an opportunity for companies that have not yet renegotiated their energy contracts. The main actions to consider are:
- Current bill audit — identify any billing errors or contracted power optimisations
- Comparison of proposals in the free market — spreads between suppliers can be significant
- Assessment of indexed vs. fixed tariffs — based on the company's risk profile
- Time cycle review — aligning peak/off-peak periods with actual consumption profile
Our recommendation
For companies with electricity or gas contracts of more than 12 months, we recommend a full review before the next renewal date. The current market offers favourable conditions for those who negotiate with information and aggregated purchasing power.
At Energia Empresas, we carry out this analysis free of charge and with no commitment. If you want to know how much you could save, simply share your most recent bill with us.
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