After the good results obtained from an assessment of geomagnetically induced currents (GICs) in a relatively small subset of the Spanish power transmission network, we now present the first attempt to assess vulnerability across the entire Spanish system. At this stage, we have only included the power grid at the voltage level of 400 kV, which contains 173 substations along with their corresponding single or multiple transformers and almost 300 transmission lines; this type of analysis could be extended to include the 220-kV grid, and even the 110-kV lines, if more detailed information becomes available. The geoelectric field that drives the GICs can be derived with the assumption of plane wave geomagnetic variations and a homogeneous or layered conductivity structure. To assess the maximum expected GICs in each transformer as a consequence of extreme geomagnetic storms, a post-event analysis of data from the Ebre Geomagnetic Observatory (EBR) during the 2003 Halloween storm was performed, although other episodes coincident with very abrupt storm onsets, which have proven to be more hazardous at these mid-latitudes, were analyzed as well. Preferred geomagnetic/geoelectric field directions in which the maximum GICs occur are automatically given from the grid model. In addition, EBR digital geomagnetic data were used to infer statistical occurrence probability values and derive the GIC risk at 100-year or 200-year return period scenarios. Comparisons with GIC measurements at one of the transformers allowed us to evaluate the model uncertainties.