Renewable energy sources are expected to represent a growing proportion of the primary energy sources for the production of electricity. Environmental and social reasons support this tendency. European and Spanish energy plans assign a role of primary importance to biomass in general and, especially, to forest biomass for the period up to 2010. This paper reviews, organises and quantifies the potentials and values of this renewable resource in the foremost Spanish Region in terms of silviculture. The non-market externalities (environmental, economic and social) are classified, and some of them are quantified to present a synthesis of the benefits of a partial substitution of fossil fuels by forest biomass for electricity generation. (C) 2008 Elsevier Ltd. All rights reserved.