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Spanish economy

wholeshale electricity market

Spanish economy 27th October 2021

Brussels Says No To Spain’s Calls To Leave The European System For Setting Electricity Prices

In a document fixing its position at yesterday’s meeting of energy ministers in Luxembourg, the government requests the European Commission to be able, as an “exceptional measure”, to “decouple” electricity market prices and limit the price of gas. ” While Spain presented this document the European Commissioner for the Economy, Paolo Gentiloni, said in Madrid that the measures adopted by countries to curb the impact of the rise in wholesale prices on electricity bills must be “temporary” and “respect the single European market”.

The Bank of Spain

Spanish economy 26th October 2021

The Bank Of Spain Will Revise Spanish Economic Growth “Significantly Downwards”

The governor of the Bank of Spain (BdE), Pablo Hernández de Cos, warned yesterday that the institution’s analysts will revise “significantly downwards” their forecasts for Spain’s economic growth this year. He did so during his speech before the Congressional Budget Committee, to offer his opinion on the draft General State Budget for 2022. Furthermore, Hernández de Cos said he believes that some revenues in the General Budget have been calculated…

euro digital currency

Spanish economy 26th October 2021

The ECB Chooses Three Executives From BBVA, CaixaBank And Bizum For Its ‘Council Of Wise Men’ On The Digital Euro

The council is composed of 30 members (23 men and seven women), all of whom come from the business community. BBVA will be represented by Antonio Macías Vecino, who has been in charge of payments policy at the bank since June 2020.Caixabank by Fanny Solano, head of market regulation, digital and retail banking, and Bizum by Fernando Rodríguez Ferrer, who has been responsible for business development since January 2017.

exports spanish2

Spanish economy 25th October 2021

Understanding the evolution of Spanish exports from a value added perspective

Luís Pinheiro de Matos (Caixabank Research)| The transformation of the Spanish economy in the last decade has been particularly visible in the external sector. It went from losing competitiveness and running ever-increasing deficits between 1997 and 2007 (the current account deficit reached over 9% of GDP) to recovering competitiveness and maintaining a consistently positive foreign balance since 2012 (+1.8% on average over the period 2012-2020). To better understand how this transformation will help the economy after the pandemic, we analyse the trend in exports from a new perspective.

Repsol

Spanish economy 22nd October 2021

Repsol CEO Asks Brussels To Put More Emission Rights On The Market

According to Josu Jon Imaz, Repsol CEO, “it is not acceptable that there are industries which have to stop because they cannot assume the energy costs”. So he has asked the European institutions to immediately put more CO2 rights on the market which, in his opinion, would have an “immediate effect” on consumers’ electricity bills and on the competitiveness of industry. Imaz said that “European consumers are paying an oversized…

spain brand

Spanish economy 22nd October 2021

Spain’s Brand Value Grows By 4% Vs 2020; Is One Of Only 12 Nations To Hit The €1 Bn Mark This Year

The Spanish brand has increased its value by 4% and is ranked 12th in the Nation Brands 2021 ranking by Brand Finance, which analyses the 100 most valuable and strongest country brands in the world. With this increase, it has recovered from the -28% drop it recorded in 2020 due to Covid-19. The world’s most valuable country brand is once again the United States with a value of 20.9 billion euros, followed ever more closely by China with 16.7 billion euros.

red electrica cableado

Spanish economy 21st October 2021

Government Vs Electricity, A Conflict That Remains

Fernando González Urbaneja (La República) | The government and the electricity companies, more specifically Iberdrola and Endesa, have accepted a state of conflict. And they are acting accordingly, to the detriment of everyone else. What could have been an opportunity to cooperate for the benefit of the community has turned into a conflict of power with conflicting egos. The two major electricity companies did not participate in this week’s renewable…

capital energy auction

Spanish economy 21st October 2021

Big Spanish Utilities Drop Their Bids In The Renewables Capacity Auction; Capital Energy Takes The Lead

Intermoney | Capital Energy has won the renewable capacity auction held this week by the Ministry for Ecological Transition. The Spanish utility won 1,548 MW, almost all of them wind, out of the total of some 3,100 MW awarded. Endesa, Iberdrola and Acciona Energía declined to bid in this auction, no doubt due to regulatory uncertainty and the dispute between the first two and the government.

Acerinox cool

Spanish economy 20th October 2021

Spanish Industry Starts To Grind To A Halt Due To The Price Of Energy, The Most Expensive In Europe

In September, Spanish industry paid the most expensive energy price in Europe: 102.55 euros MW/h, compared to 43.83 euros in France and 69.19 euros in Germany, El Mundo reports. These prices are an inevitable death sentence, for example, for the over 600 workers at Alcoa’s aluminium factory in San Ciprian (Lugo). They have been demonstrating for weeks, demanding a solution to the announced closure of the plant and a price…

Araceli

Spanish economy 20th October 2021

Almost 80% Of The Total Spanish Population Is Vaccinated

The Ministry of Health has notified on Monday that 90% of the target population, i.e. those covered by the vaccination campaign, have already received at least one dose of COVID-19 vaccine. In total there are 37,891,519 people, almost 80% of the total population of Spain. With regard to the current average incidence of infection in Spain in the last 14 days, the slight rise recorded in recent days has been slowed down, with the figure falling to 41.90 cases per 100,000 inhabitants.