|Bid||6.564 x 863400|
|Ask||6.560 x 9000|
|Day's Range||6.56 - 6.61|
|52 Week Range||5.71 - 6.99|
|Beta (3Y Monthly)||0.70|
|PE Ratio (TTM)||14.97|
|Earnings Date||Feb 18, 2019 - Feb 28, 2019|
|Forward Dividend & Yield||0.34 (5.09%)|
|1y Target Est||7.13|
As delegates convene at UN-backed climate talks in Poland this week, the Spanish will have a new trophy in hand: a renewable energy plan that seeks to reverse years of rising emissions. Spain’s proposals, set to be adopted by the cabinet in coming weeks, spell out an ambitious target to draw 100 per cent of the country’s electricity from renewables by 2050. “We are a government convinced of the importance of working on positive, co-operative multilateralism, and also taking our share of responsibly on domestic action,” says Teresa Ribera, minister for the ecological transition.
British power producer Drax Group Plc (DRX.L) has revised the terms of its deal to buy UK generation assets from Spain's Iberdrola (IBE.MC) to ensure it gets a rebate on lost capacity payments due to a pause in a government scheme. In October, Drax agreed to buy some UK hydro and pumped storage power plants from Iberdrola's Scottish Power for 702 million pounds as it aims to exit coal-based production before a 2025 government deadline. Last month, Britain had to halt a back-up power scheme called the capacity market to avoid electricity shortages pending a further investigation by European Union regulators.
Moody's Investors Service ("Moody's") has today assigned a first-time issuer rating of Baa1 to ScottishPower Renewables (WODS) Limited ("SPR WODS"). SPR WODS's Baa1 rating is supported by the stable and predictable cash flows generated by the 389 megawatt ("MW") West Of Duddon Sands ("WODS") offshore wind farm, in which it owns a 50% interest.
MADRID/FRANKFURT (Reuters) - Siemens Gamesa (SGREN.MC) sold more turbines in the fourth quarter and said sales would rise by at least 10 percent next year, setting a high bar for main rival Vestas (VWS.CO) who is due to report quarterly results on Wednesday. Shares in Siemens Gamesa, formed by the merger of Spain's Gamesa with the wind power business of Siemens (SIEGn.DE), rose as much as 13 percent to their highest level since Sept. 25, out-shining Vestas which was up 5 percent. Siemens shares were flat.
A British price cap on the most widely used domestic energy tariffs will come into force on Jan. 1, 2019, saving households a total of around 1 billion pounds a year, energy regulator Ofgem said on Tuesday. The regulator was tasked by parliament with setting a cap after a committee of lawmakers called Britain's energy market "broken". Prime Minister Theresa May said the energy tariffs were a "rip-off".
Iberdrola says it has invested more than 1.4 billion euros in the plant. Fully operational and connected to the German grid, Wikinger supplies renewable energy to 350,000 homes. Iberdrola has officially launched its 350 megawatt (MW) Wikinger offshore wind farm.
Iberdrola's (IBE.MC) Scottish Power will use offshore wind power to replace the capacity of the gas and hydro power projects it is selling, with wind becoming its sole source of electricity production, Iberdrola's director of Offshore told Reuters. Scottish Power, the British arm of the Spanish energy giant, earlier this month announced plans to sell a group of gas, hydro and pumped storage power plants for 702 million pounds ($900 million) to British power generator Drax (DRX.L). The sale makes Scottish Power the first of Britain's big six energy suppliers to shift to 100 percent renewable electricity generation but it will more than halve its UK capacity.
The supplier of energy to more than 30 million people in countries including Spain, the United States and Britain said it still expects core earnings to pass 9 billion euros ($10.3 billion) this year. Earnings before interest, tax, depreciation and amortisation (EBITDA) were 6.72 billion euros in the nine months to Sept. 30. Under the reiterated guidance, net profit is expected to reach 3 billion euros with dividends increasing in line with rising income.
When Iberdrola SA (BME:IBE) released its most recent earnings update (30 June 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry Read More...
Moody's Investors Service ("Moody's") has today placed on review for downgrade the Baa1 issuer rating of ScottishPower Generation Ltd. ("SPGEN"). At the same time, Moody's has affirmed the ratings of Scottish Power Limited ("Scottish Power") and its other subsidiaries with a stable outlook.
A warning from Michelin that dragged down tire manufacturers and a disappointing trading update from the London Stock Exchange were the highlights of another packed European corporate slate.
Power generation companies worldwide are under regulatory pressure to move towards renewable energy and reduce dependence on coal. The UK government has set 2025 as the deadline to end "unabated" coal-fired power generation. Newswire Renewables Now in June, citing a Spanish daily, that Iberdrola was seeking a buyer for its 50-MW Puertollano solar power plant in Spain's Castilla-La Mancha, adding that the plant could fetch between 100 million euros (£88 million) and 150 million euros ($115.6 million-$173.5 million).
MADRID/MUNICH (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) announced a reshuffle of its top management on Tuesday, part of a bid to advance an ambitious cost-saving plan after a year-long board battle over issues ranging from suppliers to leadership. David Mesonero, currently managing director of corporate development, strategy and integration, will take over as chief financial officer, the company said, while current CFO Miguel Angel Lopez Borrego becomes non-executive chairman. The company's main shareholders, Siemens (SIEGn.DE) and Iberdrola (IBE.MC), agreed the changes on Tuesday.
The plants run by Iberdrola's (IBE.MC) Scottish Power arm include the massive Cruachan pumped storage hydro facility, built inside a mountain near Loch Lomond, as well as a biomass-from-waste facility, which have helped Scotland creep closer to generating all of its power from renewable sources. The sale, included in Iberdrola's 2018-2022 strategy to rotate assets worth 3 billion euros ($3.5 billion), leaves the Spanish group with only wind power generators in Britain.
A $900 million disposal by Spain’s Iberdrola and a revenue warning from British American Tobacco are the corporate highlights in Europe on Tuesday.
The energy company based in Bilbao, Spain, will sell 100% of Scottish Power’s capital to Drax for GBP702 million ($922.3 million) in cash. Iberdrola said it expects the sale to have a positive impact on its 2018 earnings, which will be quantified and announced when the transaction closes. To finance the acquisition of Scottish Power, Drax has entered into “a fully-underwritten GBP725-million secured acquisition bridge facility agreement,” the British electrical power company said in a statement.
Spanish utility Iberdrola (IBE.MC) said on Tuesday it had agreed to sell its stake in its conventional generation assets, held by the company Scottish Power, to Drax for around 801 million euros (704.3 million pounds) as part of its asset rotation plans. The plan, which is included in its 2018-2022 strategy to rotate assets worth 3 billion euros, leaves the Spanish group with only wind power generators in Britain. Iberdrola has a wind power generation potential of some 2,700 megawatts in Britain, either installed or in construction, most of which is in offshore wind farms.
Profits from supplying gas and electricity at Britain's big six energy firms fell by a combined 10 percent last year as they lost customers to smaller rivals, a report by industry regulator Ofgem said on Thursday. Earnings at Britain's energy firms are under political scrutiny, with Ofgem set to impose a price cap in time for winter following a government promise to tackle "rip-off" prices. Britain's big energy suppliers are also facing competition from more than 60 smaller challenger firms, often offering cheaper prices.
Iberdrola SA Chairman and Chief Executive Officer Ignacio Galan spoke to Seb Henbest at the Bloomberg NEF Summit on Oct. 1 about Europe's energy industry, carbon pricing and investment. (Source: Bloomberg)...