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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 to decline to 53.8% of capacity as of the end of calendar week 32, down from 55.4% the week prior, according to data from Spain’s Environmental Ministry.
- Hydropower output in Spain last week edged lower to 3.09GW, down from 3.22GW the week before.
- Nuclear generation was broadly stable on the week at 6.89GW.
- Solar PV generation last week increased by 400MW on the week to 8.6GW. Onshore wind output declined by 411MW to 4.79GW.
- Gas-fired generation last week decreased by 1.82GW to 5.31GW.
- Power demand is Spain last week averaged 28.75GW, down from 30GW the week before.
- Looking ahead, the latest 6-10 days ECMWF forecast suggested mean temperatures in Madrid are forecast to remain above the seasonal normal until 14 August and to remain below normal until 17 August, after which mean temps will rise back above the average. Max temps in Madrid are seen at above 39C this week, further supporting demand for cooling.
- Wind output in Spain for the remainder of this week is forecast between 3.02GW and 5.6GW during base-load hours, equal to load factor between 11-20%. Solar PV output is forecast at 6.35GW to 6.96GW during base-load hours for the remainder of this week.
- The hydro-intensive region of Huesca has seen some precipitation above the seasonal normal this week and is forecast to see up to 16mm on 14 August, before forecasts suggest drier weather.
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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