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Iberdrola

energy sector

Companies, Ibex, Spanish economy 22nd September 2022

Electricity companies ask for extraordinary tax on profits, not revenues

Banc Sabadell | The Royal Decree on energy has been approved and the electricity companies are still asking that in Spain profits are taxed and not revenues. Yesterday the Cabinet approved the Decree which includes: Cut in VAT on gas from 21% to 5% up to December (which could be extended until 2023). Application of the “Iberian exception” to co-generation plants (600 installations) Service mechanism for rapid demand response, allowing industries…

Iberdrola

Companies, European economy, Ibex 22nd September 2022

Iberdrola, Acciona Energía, amongst favourites to play European energies theme

Morgan Stanley | Despite Gazprom cutting the gas supply via Nord Stream 1, Martijn Rats (our Commodities strategist) believes that rationing will not be necessary this winter. However he warns that Europe could enter winter 2022-24 with inventory levels which are too low. In response to this, the European Union has suggested introducing different measures: Limit the price of electricity for the “fixed cost” energy generators, 2. Limit the price…

iberdrolaTC

Companies, Ibex, Spanish economy 23rd August 2022

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….

Iberdrola

Companies, Ibex, Spanish economy 11th August 2022

Iberdrola, amongst stocks with greater exposure and benefitting more from clean energies in US

Morgan Stanley |The climate legislation in the US is improving the profitability outlook for investments in clean energy, since countries are competing for capital and accelerating the new energy ambitions in the wake of the global energy crisis. Previously, the US was the top destination for capital. However, the gas crisis in Europe has changed the preference for assignation of capital of those companies in our coverage: a: 1) Europe,…

Iberdrola

Companies, Ibex, Spanish economy 11th July 2022

Iberdrola wins 2.122 MW in UK renewable auctions

Norbolsa | Iberdrola (IBE) has won Contracts for Difference (CfD) for 16 renewable energy projects in Scotland, England and Wales via a renewables auction in the UK. The company obtained a contract for the offshore wind farm East Anglia Three for 1.400 MW, five onshore wind projects for a total of 396 MW and ten solar photovoltaic sites for a total of 326 MW. In this way, Scottish Power has ensured…

iberdrola guapis

Companies, European economy, Ibex, In Europe 1st July 2022

Iberdrola commits to maintaining its €3.5 B investment in the UK despite new regulatory framework

Link Securities | Iberdrola has committed to maintaining its planned 3 billion pounds (some 3.5 billion euros) investment in the UK. This is despite the new regulatory framework proposed for network operators in the country which limits profits, according to a report in Expansion. The Spanish electricity company explained on Thursday that it plans to continue to drive energy transformation in the UK as part of its transition towards an…

Iberdrola

Ibex, Relevant News Item 20th June 2022

Electricity sector: Moncloa looks to impose a charge on companies via decree law. We prefer Iberdrola and Ecoener

Banc Sabadell | The Government is looking for the “quickest” formula to increase tax pressure on the big electricity companies. The most feasible and fast option would be to implement a surcharge on corporate tax via a decree law, with which the the energy firms’ ‘windfall profits’ from the rise in prices would be additionally taxed. Given the technical complexity of this, it is being considered whether to include it…

Iberdrola

Spanish economy 31st May 2022

UK confirms ‘windfall tax’ for energy firms: Iberdrola, one of the most exposed

Banc Sabadell | The UK has confirmed the creation of a temporary tax on the windfall profits of energy companies (including oil and gas), with which it would raise 5 billion pounds (6 billion euros). The tax charge will be up to 25% on profits. At the same time, there will be compensations with tax exemptions on 90% of investments. In the Spanish press, and contrary to what other media…

iberdrola guapis

Spanish economy 19th May 2022

REPowerEU is more ambitious in renewables capacity, penetration; Iberdrola ToP Pick in integrated firms

Morgan Stanley | The details of REPowerEU are positive for the sector. In this note we analyse the changes to the new plan (the first one was 8 March). The objectives are more ambitious for the capacity and penetration in renewables, particularly in solar. Objectives have also been heightened for energy efficiency and an increase in carbon credits. For the time being it is more a political plan of intentions…