The forecast for Fuel Oil Gross Electricity Production in Spain from 2024 to 2028 shows a consistent decline. The value, starting from 26.38 Thousand Terajoules in 2024, is projected to drop to 23.02 Thousand Terajoules by 2028. In 2023, the production stood at 27.26 Thousand Terajoules, indicating a year-on-year decrease of approximately 3.2% in 2024. The consecutive years follow a downward trend with decreases of 3.3% in 2025, 3.3% in 2026, 3.4% in 2027, and 3.4% in 2028. The Compound Annual Growth Rate (CAGR) over this five-year period is approximately -3.3%.
Future trends to watch for include shifts towards renewable energy sources, government policies affecting fossil fuel usage, and technological advancements in electricity production. These factors could significantly influence the reliance on fuel oil for electricity generation in Spain.