Wild excitement erupting this year (8)
I believe the answer is:
hysteria
'wild excitement' is the definition.
(I've seen this before)
'erupting this year' is the wordplay.
'erupting' is an anagram indicator.
'this'+'year'='thisyear'
'thisyear' is an anagram of 'HYSTERIA'.
(Other definitions for hysteria that I've seen before include "Wild excitement" , "neurotic disorder" , "Panic" , "frenzied excitement" , "Uncontrollable fear" .)