Iberdrola

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…

Spanish economy 29th April 2022

The Excessive Profits Of The Electricity Companies, Where Are They?

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…

Spanish economy 21st April 2022

Copying The Portuguese Regulated Electricity Tariff System In Spain Would Reduce The Price By 40%, According To The Chairman Of Iberdrola

The chairman of Iberdrola, Ignacio Sánchez Galán, yesterday called for a modification of the regulated electricity tariff (PVPC): “We have a differential element which is the design of our regulated tariff, unique in Europe. If a design similar to that of other countries is made, the regulated tariff, which only affects ten percent of the energy consumed in Spain, could fall by between 30% and 40%”, he told the media…

Spanish economy 23rd February 2022

Iberdrola Posted Net Attributable Profit Of €3.88 Billion

Helped by increased investments and international expansion, in 2021 the company posted €3.88 billion net profit, up by 8%. The positive growth in the United States and Brazil has offset the negative performance of the generation and supply business, affected by high energy prices in Spain and the United Kingdom. Ebitda exceeds €12 billion (+20%). The company has delivered its gross operating profit forecast for 2022 one year early Improved…

Spanish economy 13th January 2022

Iberdrola signs agreement to enter the Philippine market with 5 marine wind farms

Renta 4 | Iberdrola (IBE) has signed with Triconti ECC Renewables and Stream Invest Holding an option allowing it to enter the Asian country with 5 marine wind farms, the total capacity of which would reach 3,5 GW. Triconti is the biggest independent wind energy developer in the Philippines, while Stream Invest Holding is a Swiss renewable energy group. All the projects come with an assured service contract with the Philippine…

European economy 15th November 2021

Iberdrola, via its UK arm Scottish Power, will join a consortium to analyse opportunities for exporting green hyrdrogen from Scotland to Germany

BancaMarch |The Spanish power company, via its UK affiliate Scottish Power, is to sign up to a consortium with other groups to analyse future opportunities to export green hydrogen from Scotland to Germany. The project is called Scot2Ger and has been commissioned by Scotland’s business association Scottish Enterprise. It also has the backing of the Scottish government and other public bodies. Scottish Power will specifically take charge of creating a…

Spanish Politics 4th November 2021

New Mexico Regulator Questions Iberdrola’s Financial Health; Considers Condition Buy Of PNM Resources

Renta 4 | One of the US regulators could be questioning Iberdrola’s acquistion of PNM Resources. The Regulatory Commision of New Mexico has recommended that the operation, (EV 6.9 billion euros), carried out by the Spanish firm’s subisidiary Avangrid, is done again. The regulator has found that there are more disadvantages for customers than initially estimated. And it is calling for conditions to be attached if the deal is finally…

European economy 22nd October 2021

Iberdrola To Invest £6 billion In An Offshore Wind Farm In The UK

Iberdrola will invest £6 billion (7.1 billion euros) in the UK through its subsidiary Scottish Power to develop the East Anglia Hub offshore wind farm complex. Iberdrola’s chairman made the announcement at the Global Investment Summit organised by Boris Johnson to boost foreign investment. The British PM thanked “for the investment and commitment to the country. You are always welcome”. The East Anglia Hub will be one of the largest…

Spanish economy 22nd July 2021

Iberdrola’s Net Profit Drops 18.4% In H1’21

Iberdrola (IBE) has announced net profit of 1.531,3 billion euros in the first half of the year, down 18.4% compared to the same period last year. The fall is due both to the impact of the tax hike in the UK and the recognition in 2020 of the capital gain on the sale of the stake in Siemens Gamesa. At close of trading on Wednesday, IBE was up 0.69% on…

Spanish economy 2nd June 2021

Spanish Utilities To Lose €800-1Bn With The Cut In Windfall Profits, 5% Of Their EBITDA

On Tuesday, the Ministry for Ecological Transition presented a draft bill to the Council of Ministers to put an end to windfall profits, i.e. to put an end to the over-remuneration of nuclear and hydroelectric power in order to reduce consumers’ electricity bills, which have risen considerably, among other things, due to the increase in CO2 emissions.According to government sources, the proposal would respect the European regulatory framework (where there should be no discrimination by technology) and would be similar to that existing between 2006/2009, with the reduction of a part of the CO2 “dividend” to non-emitting plants prior to 2005 that sell energy on the market.

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