Average wholesale electricity prices in Hungary, Italy and Romania have all risen by at least 12% from last year's average levels, according to energy data portal electricitymaps. This is due to high dependence on natural gas for power generation in Italy and other Eastern European nations, which rank among the most gas-intensive energy systems in Europe. This has led to a 65% increase in Europe's benchmark natural gas price since the start of the Iran war, which has resulted in the closure of vital oil and gas shipping lanes in the Middle East. This could trigger tighter gas supplies for major import-dependent gas consumers and further increases in electricity prices. Italy, Hungary and Romania all boosted average gas-fired electricity generation so far in 2026 compared to the average gas generation levels in early 2025. However, power producers in Spain, Portugal and France have reduced their reliance on gas for electricity generation in recent years.