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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 fell sharply on the week to 50.9% of capacity at the end of week 34 compared to 52.3% in week 33, according to data from Spain’s Environmental Ministry.
- Hydropower output in Spain from water reservoirs averaged 1.37GW in week 34 compared to 1.31GW in week 33.
- Nuclear generation fell to an average of around 6.87GW compared to 6.93GW in week 33.
- Gas-fired power generation last week increased to 5GW compared to 4.46GW the week prior.
- Solar PV generation decreased to 7.63GW compared to 8GW.
- And onshore wind last week increased to 5.33GW compared to 5.2GW.
- Power demand in Spain last week averaged 27.74GW, up from 26.18GW the week before (week 33) – partly due to the public holiday on 15 August.
- Precipitation in the hydro-intensive region of Huesca has been slightly revised up over 28-29 August but was revised down by around 1.6mm on 30 August to 2.38mm- still above the 30-year norm of just over 0mm.
- Looking ahead, the latest 6-10 days ECMWF forecast suggested max temperatures in Madrid at around 31.4-37.9C over 28-30 August – likely keeping cooling demand firm.
- Wind output in Spain for the remainder of this week is forecast between 1.34-4.14GW during base load, or 5-15% load factors.
- And solar PV output is forecast at 10-13.1GW 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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