PSOE leads the Álava constituency in the November 29, 2026 Spanish general election with a 71% implied probability, reflecting consistent polling averages from late October and early November that place the party first in vote share at around 25-28%. Recent Basque Government Sociómetro data and aggregated projections from ElectoralLab show PSOE ahead of EH Bildu (22-24%), PP (around 20%), and PNV (15-16%), with each of these four parties projected to secure one of the four seats under D’Hondt allocation. PSOE maintains stronger local sympathy ratings in Álava than in other Basque provinces, while EH Bildu gains regionally but trails here; PNV support has declined notably from prior cycles. The upcoming vote and absence of major late shifts in provincial surveys underpin trader consensus on these relative positions.