According
to study, “Spain Power Market Outlook to
2030, Update 2018 - Market Trends, Regulations, and Competitive Landscape” some
of the major companies that are currently working in the Spain’s power market
are Union fenosa, Acciona, ACS group, EMTE, Naturgy, Iberdrola, Torresol
energy, EDP renovavels, Bio fuel systems.
Spain
is the largest power market in southwestern Europe. It is moving towards the
sustainable development of power sector. The power sector in Spain was
privatized in 1985. About 33.7% of the power generated in the country came from
renewable energy sources. By the end of 2017, the Spain had installed power
generation capacity of 104,122 megawatts (MW).
New
methods of energy production and development are being developed. Major method
of energy production is the use of renewable resources such as wind energy. Spain
is dependent on imported oil due to its geographical position and lack of
natural resources. In order to reduce this dependence, government aims to shift
towards renewables by promoting wind energy. By the end of 2017, the Spain had
installed windpower generation capacity of 23,121MW.
In
Spain, another renewable resource is hydro energy. Spain is extensively
utilizing its hydropower potential in order to ensure safer environment for its
future generation. Country has numerous hydropower projects that are still
under construction and some that began operations long back. In 2017, the Spain
had installed hydro power generation capacity of 20,354MW. One of the
advantages of this source of power is that it is cheaper, expands irrigation and
provides water& 19% of electricity.
In
Spain, wholesale electricity market is operated by OMIE. OMIE is the daily
market and its purpose is to handle electricity transactions for the following
day through the presentation of electricity sale and purchase bids by market participants.
In
Spain, the private sector companies are investing in smart grid development and
R&D to promote increased competitiveness for Spanish utility providers. It
is estimated that a 1€ investment in smart grid technology generates 2 EUR -
2.3 EUR in economic benefits. The stakeholders in the energy sector in the
evolution of Spain’s smart cities include government entities at the national
level such as the Ecological Transition Ministry, the National Commission on
Markets and Competition, Red Electrica de Espana, the Institute for
Diversification and Energy Saving and OMIE that manages the entirety of the
markets.
In
2017, Spain is the fifth country in the world in terms of installed wind power
after China, the US, Germany and India. The future of power industry is
expected to be bright especially due to the strong support that the Spanish
regulatory framework provides. In the upcoming years there will be an extreme
investment, change in government’s policies in favor of these resources and auctions
are expected to promote electricity generation from renewable. Opportunities
exist for the transmission system to connect the remote areas. The transmission
systems are expected to ensure supply/demand balance. Electricity delivery and
demand side management solutions as are expected to increase due to smart grid
deployments. Spain has also leveraged its development by pledging to meet
between 30-44% of gross final energy demand through clean energy by 2030, and
by 2020, country has pledged to meet 20 percent of the gross final energy
demand through clean energy.
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Related Reports:-
https://www.kenresearch.com/energy-and-utilities/power/slovakia-power-market-outlook/160903-103.html
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