Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain electricity demand slumps 3.7 pct in October

Source: Reuters - Tue 1st Nov 2011

Demand for electricity in major gas importer Spain fell by 3.7% in October year-on-year after a fall of 1.3% in September, national grid manager REE said on Tuesday.

The data echoed a report by Spain's central bank on Monday that domestic demand had slumped, which has led some economists to predict the economy may enter a recession in the final thee months of the year.

REE added in a monthly report that demand in the first 10 months of 2011 had declined by 0.5% year-on-year.

For the first 8 months through August, Spain's demand for power had grown, albeit at a slowing rate.

Renewable energy sources accounted for 32.1% of all electricity generated for the January-October period, down from 35.1% a year earlier, a factor which has buoyed wholesale power prices.

The data also showed that coal provided more electricity than gas for a second straight month and for only the second time since 2007.

Spain is normally the world's eighth-largest importer of natural gas in the world and the fourth-largest of liquefied natural gas, but demand has slumped this year because it has been cheaper for power utilities to burn coal.

Comment on this Story

 
Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Blogs