Resolution criteria:

This market will resolve based on the number of operational nuclear reactors in Spain as of December 31, 2028. A reactor is considered operational if it is connected to the grid and capable of generating electricity on that date. The primary source for this information will be official reports from Spain's nuclear regulatory authority, the Consejo de Seguridad Nuclear (CSN), or other reputable energy industry publications.

Background:

As of May 2025, Spain operates seven nuclear reactors across five power plants, contributing approximately 20% of the nation's electricity. The reactors and their scheduled closure dates under the current phase-out plan are:

• Almaraz I: Scheduled to close on November 1, 2027.

• Almaraz II: Scheduled to close on October 31, 2028.

• Ascó I: Scheduled to close in 2030.

• Ascó II: Scheduled to close in 2032.

• Cofrentes: Scheduled to close in 2030.

• Vandellós II: Scheduled to close in 2035.

• Trillo: Scheduled to close in 2035.

These closures are part of Spain's National Energy and Climate Plan, aiming to phase out nuclear energy by 2035 and transition to renewable sources.

However, recent developments indicate potential shifts in this policy. In February 2025, the Spanish Congress approved a proposal urging the government to reconsider the nuclear phase-out, suggesting extensions for existing reactors. Additionally, in April 2025, Spain experienced a significant blackout, intensifying debates about the reliability of the energy grid and the role of nuclear power.

Given these factors, the actual number of operational reactors in Spain at the end of 2028 may differ from current projections.