Iberdrola, Naturgy and Endesa face new competition: JP Morgan enters direct electricity retail market in Spain via Sonnedix

Naturgy will be able to undo the provisions for hyperinflation and devaluation of the peso

Norbolsa | The renewable energy platform controlled by JPMorgan Asset Management is finalising a new strategic plan under which it intends to enter the direct electricity retail market. In addition to developing and managing renewable energy facilities, it will now also market its own and third-party electricity, competing with major electricity companies such as Iberdrola, Naturgy and Endesa.

Although it is an international platform with a presence in nine countries,Sonnedix is headquartered in Spain, where it began operations in 2010.

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