Yesterday, April 28th, at 12:33 PM, and due to causes that are still unknown, all of Spain – and Portugal as well – were left without power. Trains stopped in the middle of the countryside, subways halted in the middle of tunnels. Elevators with hundreds of residents trapped throughout the country. Traffic lights off, refrigerators and freezers off. Businesses open but unable to charge customers or close, in the case…
Fernando González Urbaneja | Several ministers in conversations with journalists have complained about the excessive, extraordinary, abusive… profits of the electricity companies. These adjectives have been heard in Parliament from the mouths of more than a few dubiously documented parliamentarians. It would be desirable for such descriptions to be followed by explanations and figures, because where there are no accounts, stories dominate. To begin with, it would be useful to…
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.
By Luis A. Torralba, in Valencia | Electricity producers in Spain have managed to weather the crisis under the umbrella of extraordinary income from non-recurring profits. But the markets, in spite of historically high dividends, are letting the uncertainty over the pending energy sector reform drag stocks down with a vengeance. Some declarations bring little help. The minister for Energy and Tourism José Manuel Soria recently gave away a warning:…