New Report Available: Spain Power Report Q1 2015

From: Fast Market Research, Inc.
Published: Fri Jan 30 2015

Spain's electricity market is struggling in the face of a new regulatory environment and a sluggish economy. Keen to cut costs, the government has reduced renewable energy subsidies, but it risks the wrath of providers who invested in the market expecting high returns. Recently, US company NextEra filed a complained making it the fourth official complaint of this kind. In June 2014 the Government approved a retroactive policy to replace feed-in tariff in an attempt to bring down the rate of return on renewable investments from 20% to 7.5%. The new formulas and tables to be used in the renewable industry poses significant threats to the industry's growth. We expect non-hydro renewables capacity to grow by an annual average of 2.2% between 2014 and 2023; a marked slowdown from previous growth rates of 16.4% between 2004 and 2013 . Iberdrol a's poor financial results, with net profits, revenues and EBITDA all falling in H114 from H113 figures are to be ascribed to the new regime. At the other end of the scale, major utilities have long been demanding increases in electricity prices to plug the gap between the cost of generation and the prices paid by end-users, but proposals for an 11% increase in January 2014 were rejected by the country's newly created regulator, capping prices increases at 2.3%. In the face of this confusion some players have swiftly changed their strategies. E.ON, the Germany utility, sold its Spanish assets to Macquarie European Infrastructure Fund IV in late November. Iberdrola has instead refocused on its network business, which it now defines as its core business, in an attempt to reduce the lower returns of power generation activity.

Full Report Details at

Spain has a varied energy mix, tapping into thermal, nuclear, hydroelectric and renewable sources of power, thereby reducing the country's dependence on one source of electricity. Gas continues to account for the majority of energy provision, with imports from Algeria accounting for...

The Spain Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The Spain Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

* Use BMI's independent industry forecasts for Spain to test other views - a key input for successful budgeting and strategic planning in the power market.

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