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电力

Spanish hydro stocks widen deficit to norms despite rainfall

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Spanish hydro stocks widen deficit to norms despite rainfall

亮点

Stocks widen to 2.1 TWh below 10-year norms

Hydro stocks fall to 8.1 TWh on week

Hydro output rises to 377 GWh on lower wind

London — Spanish hydroelectric stocks fell in the week to Sunday (Week 38) to 8.1 TWh and widened the deficit to the 10-year average to 2.1 TWh despite strong rainfall of over 10 mm, according to environment ministry data Tuesday.

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Hydroelectric stocks began their seasonal decline in Week 22 and are expected to reach a low of around 7-8 TWh as they typically fall by around 5 TWh during the summer period until the autumn. This period typically sees an increase in other flexible generation such as gas-fired and coal-fired generation when the thermal gap increases due to higher summer demand.

Hydro stocks were at 34.6% of capacity in Week 38, widening the deficit to 1.7 TWh below the five-year average and to 2.1 TWh below the 10-year average of 10.2 TWh.

However, stocks fell 0.28 TWh on the week to be 2.29 TWh below the same period in 2018, compared with a deficit of 2.44 TWh the previous the week.

The 377 GWh output in Week 38 was up from 316 GWh in Week 37 as lower wind output seen in the week brought higher flexible capacity demand for hydro and gas-fired power.

Hydro power output from January 1-September 22 totalled 17 TWh, down 41.5% year on year, according to Spanish power grid Red Electrica de Espana.

Rainfall was lower week on week at 13 mm during the week to Sunday, from 26 mm the previous week. This was as strong rainfall caused by storms brought floods to southern Spain during the week, with the Murcia region seen as one of the most affected.

-- Mario Perez, mario.perez@spglobal.com

-- Edited by Jonathan Loades-Carter, jonathan.carter@spglobal.com