The three big electricity companies in the Ibex 35 index, Iberdrola, Fenosa Gas Naural and Endesa are holding their breath ahead of the outcome of Sunday’s general elections. The years under the PP government have been overall difficult for them and the group, also called the Oligopoly, has a list of outstanding claims and petitions for which a solution will be difficult to find if Spain’s next government is left-wing.
BRUSSELS | By Alexandre Mato | The EU hopes to set up a new policy framework targeting the reduction of greenhouse gas emissions by improving renewable energy by 2030. The continent´s energy efficiency would be improved with utilities companies and operators operating under the auspices of the directive. It could be a crucial step, designed to save €100bn annually for consumers –most of them households.
MADRID | By J.P. Marín Arrese | The Spanish government is thoroughly reshuffling the electricity market. Confronted with a ramping deficit between market prices and overall costs, transferred into automatic commitments to fill the gap, it is taking tough action to curb an unsustainable situation. The unwarranted imbalance is mainly due to an overgenerous policy, implemented by the former Executive, in fostering renewable energies. Fat subsidies, coupled with preferential access to the market, have propelled electricity generation costs. As demand slumped in the crisis, the share of highly expensive green energies markedly increased the toll.