Commodity market report
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15 Pages

Spain power markets long-term outlook H1 2015

Spain power markets long-term outlook H1 2015

Report summary

Economic recovery is bringing growth back to Spanish power demand, although Spain's power market remains in a period of substantial oversupply and regulatory uncertain. Government measures to keep the tariff deficit under control are beginning to show results. 2014 is the first year when a tariff surplus of €11 billion is reported, compared to a deficit of € 26 billion in 2013. 

What's included?

This report includes 2 file(s)

  • Spain power markets long-term outlook H1 2015 PDF - 378.23 KB 15 Pages, 0 Tables, 11 Figures
  • Spain power markets long term outlook H1 2015.xls XLS - 901.00 KB


The power sector is rapidly transitioning to a cleaner generation mix supported by technological and regulatory changes. Regional markets and structures are adjusting to these new realities with implications on fuel demand, commodity pricing and asset values.

This Power Markets Long Term Outlook report provides a detailed analysis of supply, demand and price fundamentals, as well as the regulatory and market issues affecting regional power markets.

Use this report to examine key issues driving regulatory and economic trends and identify future growth opportunities in regional power markets.

Wood Mackenzie's detailed analysis and reliable market forecasts give you a strong foundation for your investment decisions and corporate planning. Our experienced power research analysts use high-quality proprietary gas, coal and oil markets research to help you unlock power market fundamentals and identify future growth opportunities.

  • Executive summary
    • Demand recovers but the market continues with excess capacity
    • Tariff deficit continues to restrain growth in renewables
    • Despite indigenous supply receiving state support, coal's long term prospects remain poor
  • Demand
    • Residential demand
    • Industrial demand
    • Commercial / other demand
    • Losses and energy industries
  • Supply
    • Existing capacity
    • Capacity developments and forecast
    • Gas
    • Renewables
      • Special regime (SR)
      • Restructuring of renewable energy support - taxes and specific remuneration
      • Specific Remuneration Scheme
      • Tariff deficit declines as regulatory changes pay-off
      • Challenges for the growth in renewables
    • Nuclear
    • Coal
  • Supply-demand balances
    • Annual generation by source
  • Infrastructure
  • Trade
  • Prices
    • Annual whole power prices and spreads
      • Lower hydro output raises short term prices
      • Lower demand and imports offer limited upside for spreads

In this report there are 11 tables or charts, including:

  • Executive summary
    • Annual generation by fuel
  • Demand
    • Power demand by sector
  • Supply
    • Existing capacity
    • Forecast new capacity
    • Generation capacity by fuel
  • Supply-demand balances
    • Generation by fuel
    • Changes in power supply between views
  • Infrastructure
    • Power infrastructure map
  • Trade
    • Net imports
  • Prices
    • Annual wholesale price
    • Spark and dark spread – fuel and emissions
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