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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)

Iberdrola to build two new wind farms on Canary Islands for 40 mln euros
Tuesday, 23 Aug 2016 

Iberdrola SA : To build two new wind farms on Canary Islands for about 40 million euros ($45 million) .The wind farms Las Aulagas (13.8 MW) and Chimiche II (18.4 MW) will be located on Tenerife.  Full Article

Iberdrola signs a 200 mln euros loan with the EIB
Wednesday, 3 Aug 2016 

Iberdrola SA : Signs a loan with the European Investment Bank (EIB) of 200 million euros ($223.92 million) for innovation projects in networks and renewables Further company coverage: [IBE.MC] ($1 = 0.8932 euros) (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

Spain's Iberdrola says Brexit impact on profit fully covered
Wednesday, 20 Jul 2016 

Spain's Iberdrola : Says first half net profit of 1.46 billion euros ($1.61 billion), slightly above a Reuters forecast for 1.44 billion euros . Says earnings before interest, taxes, depreciation and amortization (Ebitda) was 3.89 billion euros, also beating a Reuters forecast for 3.82 billion euros . Confirms its targets for a year-end Ebitda growth of around 5 percent and net profit growth of more than 5 percent . Owner of Scottish power says negative impact of Brexit due to fall of sterling to be partially offset by evolution of dollar . Says Brexit hit on net profit fully covered by derivatives and other financial instruments Reuters forecast [http://bit.ly/29XAn02] Further company coverage: [IBE.MC] ($1 = 0.9077 euros) (Reporting by Madrid Newsroom) ((madrid.newsroom@thomsonreuters.com; +34 91 585 21 51;)).  Full Article

Gamesa to supply 298 MW at Avangrid Renewables wind complex in US
Friday, 8 Jul 2016 

Gamesa Corporacion Tecnologica SA : Says its US unit, Gamesa Wind US, and Avangrid Renewables LLC, a company from Iberdrola group, have reached a deal for the supply of 142 wind turbines of 298 MW in total .The turbine supply to the farm in the state of New Mexico, the United States, will begin in the first quarter of 2017.  Full Article

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

UPDATE 1-Spain's Iberdrola says Brexit impact on profit fully covered

* Owner of Scottish Power says Brexit hit on net profit fully covered by derivatives and other financial instruments