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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POWER
Spanish hydropower reserves continued its decline to 52.3% of capacity as of the end of week 33, down from 53.8% of capacity the week prior according to data from Spain’s Environmental Ministry.
- Hydropower output in Spain last week declined by 137MW to 2.95GW, amid declined in output from reservoirs.
- Nuclear generation last week was broadly stable on the week at 6.93GW.
- Gas-fired power generation last week declined by 850MW to 4.46GW.
- Solar PV generation decreased by 488MW last week to 8.12GW.
- Onshore wind last week rebounded by 252MW to 5.04GW.
- Power demand in Spain last week averaged 26.18GW, down from 28.75GW the week before – partly due to the public holiday on 15 August.
- Precipitation in the hydro-intensive region of Huesca was strong at the start of the week on 12-12 reaching almost 27mm, after weather conditions were dry.
- Looking ahead, the latest 6-10 days ECMWF forecast suggested mean temperatures in Madrid to remain above the seasonal normal this week with max temperatures reaching up to 37C.
- Weather forecasts in Huesca suggest little precipitation until the weekend, when rainfall is forecast at 5.32mm on Saturday and at 4.88mm on Sunday.
- Wind output in Spain for the remainder of this week is forecast at 1.32GW to 7.11GW during base load, equal to load factor between 5 to 26%. Solar PV output is forecast at 11.89GW to 13.35GW during peak load for the remainder of this week according to SpotRenewables.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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