There are lots of places in life where being full of yourself, or at least acting like it, is not the done thing. In the spotlight of a flamenco show is absolutely not one of them. Peacocking is essential for the flamenco bailaor, and there’s something awesome about seeing the magnetic power of a performer so in control of their instrument – and their audience.

Jesús Carmona opens his show, and the 21st annual Flamenco festival, posed in a square of light against a blacked-out stage, slowly unfurling an arm with serpentine grace and then snatching at the air in a sudden grasp. It’s this ability to play with tension and attack, to suddenly erupt or acquiesce, to shift the energy around him, that marks Carmona out as a great dancer. He’ll stamp out demons in a burst of wild limbs, his legs fly and flick like La Liga’s best midfielder, but he’s got a core of absolute composure (and beautifully tight spins to go with it).

The two-week festival encompasses a wide range of contemporary flamenco, from the traditional to the cutting edge. Carmona, a former dancer with Eva Yerbabuena, falls towards the purer end of the spectrum, albeit with a modern look and sensibility. UnYdos has no theatrical setup, no thematic investigation, just two dancers (Carmona and Lucía Campillo) and four musicians: a guitarist and three singers/palmeros (handclappers). It’s a stripped-back affair, a rhythmic study – even the guitar is often played percussively – and Carmona uses every colour in his feet.

Award-winning singer Jesús Corbacho is the standout, his lithe, flexible voice spinning melodic yarns in long phrases with real sensitivity of tone. Campillo dances with traditional props, a perfectly judged solo with a shawl, first clutched intensely to her body, then its heavy fabric swung in huge arcs. She changes into a bata de cola dress with its long train – more cumbersome fabric to wield while looking beautiful (the weight of womanhood, eh?). UnYdos is no radical reinvention of form – there are just whispers of experimentation, and admittedly, quite an avant garde red blouson for the final costume – but exposed by such a stark setting and mood, Carmona shows real mastery.

• At Sadler’s Wells, London, until 17 June. The Flamenco festival continues to 29 June.