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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 dipped to 65.7% of capacity last week, after being broadly unchanged for three consecutive weeks at 66.3% of capacity, according to data from Spain’s Environmental Ministry.
- Hydro output edged down last week by 610MW to 4.21GW.
- Spanish power demand last week averaged 24.35GW, slightly down from 24.5GW the week prior.
- Nuclear generation in Spain last week recovered by 531MW to 4.93GW, while gas output edged down by 361MW to 3.2GW.
- Spanish power demand last week averaged 25.31GW, up from 24.35GW the week prior.
- Looking forward, power demand in Spain is forecast to rise this week amid hotter weather with load expected to peak at 32.29GW on Thursday according to Entso-E.
- The latest ECMWF forecast suggested temperatures in Madrid to remain above the seasonal norm until 9 June, before falling below normal until at least 14 June. Maximum temperatures in Madrid are forecast to reach around 36C on 6 June, likely supporting power demand for cooling.
- Wind output in Spain is forecast at 2GW-7GW for the remainder of this week during base-load hours. Solar PV output is forecast 8.65GW-12.75GW 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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