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Iberdrola SA (IBE.MC)

IBE.MC on Madrid SE C.A.T.S.

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Latest Key Developments (Source: Significant Developments)

UK's competition watchdog announces energy market reforms
Friday, 24 Jun 2016 

Competition and Markets Authority : Publishes final energy market reforms . Over 30 measures will be brought in to drive down costs . Concluded its energy market investigation setting out a wide range of reforms to modernise the market for the benefit of customers . Investigation found that 70 pct of domestic customers of 6 largest energy firms still on an expensive ‘default’ standard variable tariff . Has found customers have been paying 1.4 billion stg a year more than they would in a fully competitive market . Suppliers will be ordered to give ofgem details of all customers who have been on their default tariff for more than three years . Details of all customers on default tariff for more than 3 yrs will be put on a secure database .Ofgem will also be given much greater influence over the detailed codes that govern the working of the market.  Full Article

Iberdrola sells stakes in Italian renewable units for 194 mln euros
Tuesday, 14 Jun 2016 

Iberdrola SA :Iberdrola sells stakes in Italian renewable units for 194 million euros ($217.6 million).  Full Article

Indra's unit to partner with Iberdrola in technological transformation project
Wednesday, 25 May 2016 

Indra Sistemas SA : Says its unit Minsait will be Iberdrola's partner in digital transformation project of network asset management Further company coverage: [IDR.MC] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 7720920;)).  Full Article

Ferrovial to build dam and power plant for Iberdrola in Portugal
Thursday, 12 May 2016 

Iberdrola SA : Says selected consortium headed by Ferrovial to build dam and hydroelectric power plant worth 90 million euros ($102.7 million) in Portugal Further company coverage: [IBE.MC] ($1 = 0.8767 euros) (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;)).  Full Article

Iberdrola SA approves dividends, affirms outlook for 2020
Friday, 8 Apr 2016 

Iberdrola SA:Approves dividend which includes payment of 0.03 euros gross per share for FY 2015.Approves capital increase of market value of up to 855 million euros ($971 million) and 985 million euros in order to implement scrip dividend scheme.Sees 2020 net profit at around 3.00 billion euros.Sees 2020 EBITDA at around 10.00 billion euros.  Full Article

Iberdrola SA - UK's Competition Markets Authority proposes energy price cap for some customers - Reuters News
Thursday, 10 Mar 2016 

Iberdrola SA:Britain's competition watchdog wants to impose an energy price cap for 4 mln households on pre-payment meters, a document seen by Reuters showed, a watering down of previous proposals - RTRS.The Competition Markets Authority (CMA) proposals on Thursday are the provisional outcome of an investigation into whether the country's largest energy suppliers, also known as the "Big Six", have distorted competition in the energy market.The inquiry, which was launched in June 2014, is intended to clear up once and for all whether SSE, Iberdrola's Scottish Power, Centrica, RWE npower, E.ON and EDF Energy were abusing their control of the market.The price control for pre-payment meter customers would reduce their bills by a total of 300 million pounds a year and will remain in place until 2020, the CMA said.Last year, the CMA had proposed a price cap for all customers on the most expensive tariffs.On Thursday, the CMA said that in total, customers may have been paying around 1.7 billion pounds a year more than they would have done in a competitive market.The watchdog also proposed that a database is created, to be controlled by the energy regulator, to allow rival suppliers to contact customers who have been on more expensive tariffs for three years or more with better deals.  Full Article

Iberdrola SA to issue 60.3 mln shares for scrip dividend
Tuesday, 26 Jan 2016 

Iberdrola SA:Says that 60.3 million is the final amount of shares to be issued under capital increase approved on March 27, 2015.Shares' nominal value is of 0.75 euro/share.Says that the number of new shares to be issued represents an increase of 0.952 pct over company's share capital.The holders of 3.32 billion free-of-charge allocation rights entitled to accept the irrevocable commitment to purchase the referred rights assumed by Iberdrola have done so.Says it has acquired such rights in the total gross amount of 421.7 million euros.  Full Article

Gamesa and Iberdrola unit to build four wind farms in Costa Rica
Tuesday, 29 Dec 2015 

Gamesa Corporacion Tecnologica SA:Gamesa and Iberdrola Ingenieria have signed EPC contracts with subsidiaries of Globeleq Mesoamerica Energy (GME) to build four wind farms in Costa Rica with total capacity of 80 MW​.The two companies will handle all construction and commissioning phases required for this project, named Alisios, which comprises four 20-MW wind farms.Gamesa will manufacture 19 of its G90-2.0 MW turbines and 21 of its G87-2.0 MW turbines for delivery during the second quarter of 2016.Iberdrola will handle the engineering, procurement and construction (EPC) side of this renewable facility, which is due for commissioning towards the end of 2016​.  Full Article

Iberdrola SA to finalize the merger with UIL Holdings, to list Iberdrola USA
Wednesday, 16 Dec 2015 

Iberdrola SA:Says it expects to finalize the merger with UIL Holdings today and to begin listing Iberdrola USA, Inc, to be known as Avangrid, Inc, on Dec. 17.  Full Article

Gamesa Corporacion Tecnologica SA, Iberdrola Renovables sign US wind contract
Thursday, 16 Jul 2015 

Gamesa Corporacion Tecnologica SA:Says its US unit and Iberdrola Renovables have signed a contract to supply 208 megawatts of wind capacity in the United States.Will supply, install and put into operation 104 wind turbines at a wind farm in the US state of North Carolina.Expects to deliver the wind turbines in the second quarter of 2016 and put them into operation in the fourth quarter of 2016.  Full Article

Spain's Iberdrola files lawsuit against Bankia over listing

MADRID, May 31 Spain's Iberdrola has filed a lawsuit against state-owned Bankia over its 2011 stock market listing, a source close to the power company said on Tuesday.