We are pleased to present our latest Iberian power market forecast. This quarterly update serves to refresh the analysis provided in our October 2020 forecast with the latest commodity prices, market and modelling developments. The report presents an overview of electricity prices, capture prices, capacity and generation.
Key highlights from the report include:
- Our Central baseload price is forecasted to recover to 50.4€/MWh on average during the 2020s, reaching an average of 56.8€/MWh in the 2030s. The trend reverses beyond this point, with baseload prices declining to 53.3€/MWh on average in the 2040s
- Compared to our October 2020 report, baseload prices are lower on average by 0.4€/MWh. This drop is mostly driven by the rise in the assumed €/USD rate, which lowers the gas price throughout the forecast horizon. The impact is also observed in the renewables capture prices, which fall by 0.2 €/MWh on average both for onshore wind and solar PV compared to our previous update
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