Iberdrola to terminate retail contracts in France


Alphavalue | Iberdrola (Reduce, TP €11,5 ++) : Iberdrola’s share price rose 0.37% yesterday, despite the criticisms received in France after the Spanish utility decided to terminate power contracts with thousands of its customers there. It cited high energy costs.

Let’s not forget that Iberdrola has lodged a complaint against France with the European Commission, regarding supposed state aid to EDF (reduce, TP 11,8 ++) for over 5 billion euros.

The Spanish company is one of EDF’s biggest competitors in France.

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