Commodity Market Report

Spain power markets long-term outlook H1 2015

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31 August 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. 

Table of contents

    • 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
    • Residential demand
    • Industrial demand
    • Commercial / other demand
    • Losses and energy industries
    • 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
    • Annual generation by source
  • Infrastructure
  • Trade
    • Annual whole power prices and spreads
      • Lower hydro output raises short term prices
      • Lower demand and imports offer limited upside for spreads

Tables and charts

This report includes 11 images and tables including:

  • Power demand by sector
  • Power infrastructure map
  • Net imports
  • Annual generation by fuel
  • Existing capacity
  • Forecast new capacity
  • Generation capacity by fuel
  • Generation by fuel
  • Changes in power supply between views
  • Annual wholesale price
  • Spark and dark spread – fuel and emissions

What's included

This report contains:

  • Document

    Spain power markets long term outlook H1 2015.xls

    XLS 901.00 KB

  • Document

    Spain power markets long-term outlook H1 2015

    PDF 378.23 KB

  • Document

    Spain power markets long-term outlook H1 2015

    ZIP 651.81 KB

  • Document

    Executive summary

    PDF 87.18 KB

  • Document


    PDF 105.77 KB

  • Document


    PDF 125.88 KB

  • Document

    Supply-demand balances

    PDF 102.01 KB

  • Document


    PDF 104.62 KB

  • Document


    PDF 58.56 KB

  • Document


    PDF 89.93 KB