Abstract:The ongoing debate on water policies in Spain is characterised by a traditional paradigm, dominated by the intervention on hydrological systems through the construction and management of infrastructure, which is progressively being abandoned but is currently still strong while the emergence of new management approaches. Climate change and the Water Framework Directive (WFD) are, in addition, the background to increasing challenges to traditional perspectives on drought, and important steps have been taken towards their replacement. This work analyzes the evolution of the normative structure and management models to identify recent shifts. The analysis is based on a fundamental conceptual change that places drought in the framework of risk, rather than that of crisis. I argue for the need to advance new prevention policies that can finally overcome productivist inertia and undertake essential tasks such as reallocating water flows, revising and controlling the water-concession system, and reinforcing and guaranteeing public participation.