Banco Sabadell | According to press reports, both companies are set to apply imminently for authorisation to extend the closure date of the two reactors at the Ascó nuclear power station in Tarragona, at least until 2034, compared to the initially planned dates of 2030 and 2032.
Assessment: News of little impact for now, which would be in line with the sector’s stance of wanting to extend the closure of the nuclear fleet. We note that there is currently a formal request for an extension at Almaraz, which is pending the National Security Council’s report and the Government’s final decision (the Government continues to reiterate that any extension should not entail higher costs for consumers). Meanwhile, the capacity of Ascó 1 (100% Endesa, 1,033 MW) and Ascó 2 (85% Endesa, 873 MW and 15% Iberdrola, 154 MW) totals 2,060 MW (27% of the nuclear fleet’s capacity) and the greatest exposure would fall on Endesa (8% of its total capacity).
