Redeia

Companies, Relevant News Item 17th September 2026

Redeia will invest €17 billion to increase electrical grid capacity

After a two-year corporate battle over the saturation of Spain’s electricity system (with fallout including the huge controversy surrounding the April 2025 blackout), the Government has yielded to pressure from hundreds of companies demanding more investment in the transmission, or high-voltage, grid. The Minister for the Ecological Transition, Sara Aagesen, announced this Wednesday that investment in the Government’s new energy planning for this infrastructure will grow by 30% above initial…

Companies 15th June 2026

Redeia returning to growth in new regulatory period, albeit at moderate pace, according to Bankinter

Bankinter Analysis The 2029 Strategic Plan aims to achieve average annual growth of 3% in net banking income (NBI) and 2% in total operating profit (TOP) over the 2025–29 period. The RAB will grow at an annual average of 7% and the financial return will also improve over this period (from 5.58% to 6.58%). Despite improvements in the RAB and financial return, earnings growth is moderate due to certain factors…

Companies, Ibex, Relevant News Item 25th May 2026

Redeia plans €607 million investment in grid to alleviate technical constraints

Reported by Banco Sabadell According to press reports, the Ministry for Ecological Transition (MITECO) has reportedly initiated the consultation process for the proposed third amendment to the 2021–2026 Electricity Transmission Network Development Plan, with an estimated investment of €607 million, which aims to reduce the use of combined-cycle power stations when providing technical services to the system. Following this amendment, the total investment for the 2021–2026 planning period would reach…

Companies 12th March 2026

S&P downgrades Redeia’s long-term credit rating to ‘BBB+’ from ‘A-’, maintaining ‘stable’ outlook

Link Securities | In relation to the information published yesterday by the credit rating agency Standard & Poor’s, Redeia (RED) reports that the agency has decided to downgrade Redeia’s long-term credit rating to ‘BBB+’ from ‘A-’, maintaining a “stable” outlook. With this decision, the agency resolves its ‘CreditWatch negative’ of 26 June 2025. Following this announcement, Redeia and Red Electrica de España, Sociedad Anónima Unipersonal change their long-term rating to…

Companies 2nd March 2026

Fitch downgrades Redeia’s rating from A- to BBB+ due to increased investment efforts

Renta 4 | The factors that led Fitch to downgrade Redeia’s credit rating from A- to BBB+ focus on the increased investment that the company plans to make in the coming years as a result of its ambitious strategic plan, which will lead to a temporary deterioration in the company’s credit ratios while it is being implemented. Conclusion: Despite the downgrade, Fitch maintains a stable outlook and views Redeia’s regulated…

Companies 26th February 2026

Redeia: with net banking income of €506 million, heading towards improvement in regulated income in next regulatory period

Bankinter | Key figures compared with consensus: EBITDA €1.258 billion (up 4%) versus an estimate of €1.259 billion; net banking income €506 million (up 0.1%) versus an estimate of €503 million; FFO €1.035 billion (down 12.9%); Net debt €5.474 billion compared to €5.370 billion in December 2024. Bankinter analysis team’s view: Results in line. Positive factors in results: (i) Greater contribution from regulated electricity transmission activity (EBITDA up 4%) with…

Relevant News Item 23rd February 2026

Redeia’s transmission network still has capacity for new demand in 25% of its nodes

Link Securities | The company announced that the transmission network still has capacity for new demand in 25% of its nodes, which may be granted either through general priority criteria or through a tender process, according to Bolsamania.com. The company, in its capacity as system operator (SO), has disclosed for the first time the access capacities for demand connection at the transport network nodes, calculated according to the technical criteria…

Companies, Ibex 16th February 2026

CNMC asks Red Eléctrica to submit grid access capacity map before 20 February

Link Securities | The National Commission on Markets and Competition (CNMC) has given Red Eléctrica (REE), a subsidiary of Redeia (RED), until Friday 20 February to submit the so-called ‘map of electricity transmission network access capacity’, according to Expansión newspaper. In other words, the high-voltage network operator in Spain must detail which nodes are available to connect new electricity consumers, such as data centres. The CNMC is thus putting pressure…

Ibex 22nd December 2025

Redeia and Endesa: Council of State questions CNMC on network remuneration methodology

Banco Sabadell | According to press reports, the Council of State has issued a legal ruling questioning the legal validity of the circular on network remuneration methodology, particularly the Totex model, as linking remuneration to future demand introduces a market risk that is incompatible with the regulated nature of the activity, while imposing limits on investment could encroach on the Ministry’s powers. However, with regard to the circular on the…

Companies 11th November 2025

Current risks for Redeia: new proposal of 6.58% for FFR on electricity transmission and still uncertain effects of blackout

Renta 4 | The National Commission on Markets and Competition (CNMC) has presented a proposal for a new methodology to calculate the Financial Remuneration Rate for electricity transmission activities. Although the proposed 6.58% for the 2026-2031 period is an improvement on the previous rate of 5.58%, it is below the 7-8% requested by companies. Although it is in line with our estimate (6.55%), Redeia’s ability to improve profitability through operational…

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