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.
Avangrid, the company born of the merger between Iberdrola and UIL assets, is going to launch a $ 9.600 billion investment plan until 2020.
LONDON| By UBS analysts | Mexico is the eleventh largest country in the world by population. Yet, when it comes to energy infrastructure and consumption per capita, it ranks poorly especially compared to developed, western regions. The energy policy recently introduced provides a major capex opportunity: about €100bn over the coming ten years. Estimates for EU utilities reach investments of €18bn, which would allow for a potential net income increase of €1.1bn. In this context, most of the companies eyeing the region are from Southern Europe, with Enel and Iberdrola remaining as the sector top picks.
MADRID | By Julia Pastor | First Spanish energy company in terms of market value Iberdrola- which is also fifth in Europe- is likely to sell 25% of its Spain’s supply business. Iberdrola said earlier on Tuesday that “to date, the company has not made any decision in connection to divestments of its assets.” If finally confirmed the eventual sale could be seen as response to the Spanish energy reform which strongly affected renewables. The firm already announced investment cuts in Spain for the next two years and an increase in the UK.
MADRID | By Jaime Santisteban | Spain’s unemployment rate climbed to nearly 26 per cent in 1Q, official data showed Tuesday, despite the positive growth figures the government is proudly showing. Markets are weighing the effects of those numbers on the country’s sluggish recovery, the same day Spanish bank Santander announced an 8% profit increase in 1Q. Spain only accounts for 14% of the entity’s profits, while the UK is already 20%.
MADRID | By Julia Pastor | Words from the energy firm’ s president Ignacio Sánchez Galán saying before international investors that “they were more British, US and Mexican that Spanish” to explain each corporate bussiness’ importance on the company’s balancesheet has been a kind of hurt. Furthermore, Iberdrola announced a cut of investments in Spain: of an overall €9,600bn, only €1.5 which means 15%, will come to the country and be limited to maintenance operations, while the UK will be the major destination with 41% of investments. Against the background of the controversial energy reform having place, the debate between Spanish government and energy industry is getting hotter.
MADRID | The company sells its 75% stake in Iberdrola Renewables Polska, a holding which groups its wind power plants in Poland, as part of its divestment plans to be completed by 2015.
LONDON/MADRID | Spain’s Iberdrola has engaged in the largest wind energy project in its history. Together with Swedish Vattenfall, the companies will build the East Anglia wind farm. It will have the potential to power 5 million homes.
MADRID | ACS reported that Société Général has agreed to refinance part of the debt of its 8.25 percent acquisition of Iberdrola. The transaction, signed by ACS’ subsidiary Residencial Montecarmelo, allows to substitute the loan currently held with a syndicate of banks, in which BBVA acted as agent. The operation accounts for €1.6 billion and will leave ACS with a 6.6 percent stake in Iberdrola, that is, ACS will still…
MADRID | Spain's Iberdrola today announced an agreement by which Iberdrola USA will sell to Direct Energy the 100% of its unregulated gas and electricity retail companies Energetix and NYSEG Solutions, both based in New York State for $110.2 million. The two companies in the process of being sold provide electricity, natural gas and energy related products and services to residential, small business, large commercial and industrial customers. As of the end…