Iberia power markets long-term outlook: November 2023

This report presents our November 2023 long-term outlook for the power markets of Spain and Portugal. The market report and dataset provide projections out to 2050, commenting on market trends and the changing dynamics of price formation. This outlook incorporates Wood Mackenzie’s Q3 2023 commodity price forecasts and power technology outlooks. The report includes capacity projections, supply-demand analysis, market prices, and technology capture prices. A commentary on key takeaways is also provided, along with a summary of changes since our last publication. Annual summary data and a more detailed hourly dataset are provided in the accompanying data files. In addition, we also provide a combined markets long-format data file, lending itself more readily to automated data extraction. This outlook also appears as a case in the Europe Power Tool.