The three big electricity companies with operations in Spain, namely Iberdrola, Gas Natural Fenosa and Endesa, earned 5.627 billion euros in 2017, up 3% from a year earlier.
Cepsa wants to open up a gap for itself in the sector for commercialisation of residential electricity and gas, with the aim of grabbing a 1o% share over the coming years. It will thus become one of the four main operators along with Endesa, Iberdrola or Gas Natural Fenosa.
An average user’s electricity bill rose 10.8% in 2017 from a year earlier, according to Facua-Consumidores en Acción (Consumers in Action). Whatsmore, Facua denounces the “brutal” 16% increase in tariffs for energy consumed.
In 2016, the electricity system registered a surplus of 421,45 million euros, according to the final figure for the year released by The National Commission on Markets and Competition (CNMC in Spanish).
While the telecoms sector (mainly represented by Telefónica) is very attractive for investors, “looming pressure on returns” is clouding investor interest in the utilities.
Enel is Spanish Endesa’s main shareholder with a 70% stake. Spain’s Energy, Tourism and Digital Agenda minister, Álvaro Nadal, has accused Enel of “playing politics for the Italians to the detriment of Spanish consumers and workers.”
Spain’s three biggest utility companies, Iberdrola, Endesa and Gas Natural, earned 30% less in 2015, recording a combined profit of € 5.0009,6 billion in 2015, 29.6% less than a year earlier.
MADRID | Endesa’s head office in Madrid was the first corporate headquarters in Spain to achieve triple certification in 2011.
Spain’s Endesa has sold 100% of its business in Ireland to Scottish and Southern Energy. The operation represents an expansion in market share of 12% for SSE.
MADRID | Ferrovial announced its construction subsidiary Ferrovial Agroman has been awarded several contracts to build 325 kilometres of gas pipeline in Spain for Endesa Gas….