Spanish hydro power stocks begin seasonal decline

London — Spanish hydro power stocks eased slightly in Week 22 (seven days to May 31) but remained above 16 TWh, or 69% of capacity, as the seasonal decline started, environment ministry data showed.

Despite stocks easing, they fell to a lesser extent than normal, meaning they widened their surplus to the five-year average to 2.2 TWh from 2.15 TWh the previous week, while the surplus to the 10-year average rose to 1.32 TWh from 1.3 TWh.

Looking ahead, some forecasts called for higher than average rainfall this summer.

Hydro output in Week 22 fell for a second week, to around 0.5 TWh from nearly 0.6 TWh the week before despite lower wind output.

Rainfall during the May totaled 52 mm -- the highest since 2018 -- but almost 10 mm lower than the historical average.