Commodity Market Report
Spain power markets long-term outlook H1 2015
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
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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
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Demand
- Residential demand
- Industrial demand
- Commercial / other demand
- Losses and energy industries
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Supply
- Existing capacity
- Capacity developments and forecast
- Gas
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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
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Supply-demand balances
- Annual generation by source
- Infrastructure
- Trade
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Prices
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Annual whole power prices and spreads
- Lower hydro output raises short term prices
- Lower demand and imports offer limited upside for spreads
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Annual whole power prices and spreads
Tables and charts
This report includes the following images and tables:
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Power demand by sectorPower infrastructure mapNet imports
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Annual generation by fuelExisting capacityForecast new capacityGeneration capacity by fuelGeneration by fuelChanges in power supply between viewsAnnual wholesale priceSpark and dark spread – fuel and emissions
What's included
This report contains:
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