energy sector

Spanish economy 13th October 2022

Spain To Follow Italy And Poland And Leave The Energy Charter

Spain has initiated proceedings to withdraw from the Energy Charter Treaty (ETC), signed by 53 countries and in force since 1998, designed to protect foreign investment in energy infrastructure, according to Politico. Investors have invoked the treaty to litigate against Spain in more than 50 cases over renewable energy cuts. The third vice-president of the government and minister for Ecological Transition, Teresa Ribera, had already pointed out on numerous occasions…

European economy 21st February 2022

Electricity Prices in Spain And Portugal Are The Most Sensitive To Those Of Gas

Jorge Mario Uribe Gil via The Conversation | High electricity prices have been at the center of public opinion in the world and particularly in Europe for several months. The huge upward variations that have been recorded since the first half of 2021, and that promise to become more pronounced as the winter progresses, threaten the overall price stability of the region. This rise may lead to situations of energy…

European economy 18th February 2022

Europe’s Natural Gas Stores Are At Around 33.83% Of Their Capacity; Germany Is At 32.77% And Spain At 58.36%

Intermoney | The EU is the area that would be worst off in the event of a war in Ukraine. At this point, it is worth remembering that Russia was the first supplier of the EU in terms of energy raw materials in a normal year such as 2019. In that year, 46.7% of the EU’s imports of solid fuels (i.e. coal), 41.1% of those related to natural gas and…

Spanish economy 1st November 2021

Can A Public Electricity Company Be The Solution To Rising Electricity Prices?

Public companies are more common in Europe than might a priori be imagined. Countries such as France and Italy, as well as Austria, Sweden and Finland, are good examples of European states with extensive public participation in their respective energy giants. Particularly relevant is the French case, where EDF (with almost 85% state ownership) enjoys a great popular reputation for guaranteeing electricity services to the most remote corners of the country. In the Spanish case, by contrast, the State’s shareholding is limited to 20 % in Red Eléctrica de España, the company that manages the energy transmission infrastructure and therefore has no direct impact on the price of electricity.

European economy 14th October 2021

European Energy Shock: Policy Rethink Is One Of Seven Insights From Supplier, Consumer Squeeze

Scope Ratings says Europe’s autumn energy crisis has created its share of short- and medium-term winners – including some traders, generators and integrated suppliers – and losers such as unhedged suppliers and consumers. The real benefit would be an energy-policy rethink.

Spanish economy 27th September 2021

The EC Rules Out Major Regulatory Actions To Combat Pricing System; Spain Is The Only Country To Tackle This

The Spanish government sent a letter last week to the European Commission, in which it urged the region to adopt a common response to the electricity problem at the European level. The letter called for a reform of the wholesale electricity market and the creation of a European gas purchasing platform and strategic reserves. However, the institution dismissed Spain’s request. It will limit itself to guiding member states on measures to temporarily reduce the electricity bill within the margins of EU regulations.

Spanish economy 10th September 2021

The Spanish Electricity Sector Reform Will Force Large Utilities To Auction Part Of Their Energy Out Of The Pool

The price of electricity in Spain once again break through the historical maximum yesterday and exceedeed 150 euros for the first time in history. In order to cushion the impact of these soaring prices on electricity bills, the government is preparing a shock plan whose main measure will force the major electricity companies (Iberdrola, Endesa, Naturgy and EDP) to auction energy among retailers and industrial companies.

Spanish economy 5th March 2021

The Reform Of Spain’s Electricity Market Is Still On The Table, Despite Depending On European Regulations

Last Tuesday, the Spanish Council of Ministers gave the green light to the general guidelines of its Sustainable Development Strategy for 2030. The document stated that “the required regulatory changes for the reform of the electricity market should be addressed, putting an end to the extra compensation that certain technologies receive”. Implicitly, this refers to nuclear and hydraulic energies. However, the government has little control to make such modifications as the wholesale electricity market is under the umbrella of European regulations.

Markets, Spanish Small & Mid Caps 23rd July 2020

EDP And Macquarie Create A New Competitor In Spain’s Renewable Energy Sector

Banco Sabadell | Portugal’s EDP and Australia’s fund Macquarie have created a joint venture to acquire Spain’s Viesgo, the country’s fourth largest electricity company. EDP is acquiring Viesgo’s 500 MW of renewable assets for 615 million euros. As a result, EDP will hold 75.1% of the capital of the new Viesgo and Macquarie will hold the remainder. This new company would have been valued at 2.7 billion euros. Although a priori the creation of a new stronger competitor could mean pressure on the sector, we think it will have little impact since the greatest competitive pressures in the energy sector come from the commercialization leg.

The Spanish Ministry of Ecological transition hinders REE and Enagas growth via acquisitions

Ibex, Markets 14th February 2020

The Ministry of Ecological Transition Hinders REE And Enagás’ Growth Via Acquisitions

The Ministry for Ecological Transition plans to make changes to the law which will affect Red Eléctrica and Enagás, operators of Spain’s electricity and gas networks, respectively. According to press reports, the two companies, each with a stake of public capital, will be obliged to inform the competition supervisor (CNMC) of any interest they have in acquisitions (now they are not required to do so). The CNMC will not have the right of veto, but it will impose conditions on its approval.

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