|Bid||8.92 x 0|
|Ask||8.92 x 0|
|Day's Range||8.88 - 8.94|
|52 Week Range||5.94 - 9.13|
|Beta (3Y Monthly)||0.66|
|PE Ratio (TTM)||18.38|
|Earnings Date||Jul 24, 2019|
|Forward Dividend & Yield||0.40 (4.47%)|
|1y Target Est||7.13|
Singapore's Pavilion Energy said on Thursday its wholly owned subsidiary has agreed to buy Spanish energy company Iberdrola's portfolio of liquefied natural gas (LNG) assets. The portfolio comprises about 4 million tonnes per annum (mtpa) of Iberdrola's long-term LNG sale and supply contracts, Pavilion said in a statement. The portfolio also includes long-term regasification capacity of about 2 mtpa at Britain's Grain LNG terminal, access to regasification capacity in Spain and on a pipeline between Spain and France, as well as the time-charter of a newly built LNG vessel.
The Spanish utility has started the process with the country’s Ecological Transition ministry to build a 590-megawatt farm in the Western region of Extremadura, according to a statement Thursday. Spain’s renewable energy market has being booming over the last couple years, through a combination of large auctions and a green-energy friendly Socialist government. The country is Europe’s hottest renewables market and is set to deliver 7 gigawatts of solar and wind this year, according to estimates from BloombergNEF.
Britons could see a 6 billion pound cut in energy bills over five years from 2021, saving the average household 40 pounds per year, under plans to curb what gas and electricity network firms can pay shareholders. Regulator Ofgem, which introduced a price cap on standard energy bills in January after lawmakers said customers were being overcharged, is now targeting the operators whose network fees make up around a quarter of British household energy bills. Ofgem said it plans to cut the amount network firms pay their shareholders, known as the "cost of equity range" by almost 50% for the next regulatory period starting in 2021.
By Foo Yun Chee BRUSSELS (Reuters) - From Volkswagen to Spotify to Iberdrola, Europe's biggest firms are urging people to vote in key European Parliament elections this weekend amid concerns that an anti-EU ...
Britain's opposition Labour Party intends to take energy networks back into state ownership if elected, prompting infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy. Labour's shadow business and energy secretary, Rebecca Long-Bailey, late on Tuesday published party plans via twitter to renationalise the country's 60-billion-pound energy networks and establish a National Energy Agency. Britain's energy infrastructure, such as gas pipes and electricity cables, is owned by several firms including SSE, National Grid and Iberdrola's Scottish Power.
British energy supplier Pure Planet, in which oil giant BP has a 25 percent stake, has cut its average annual dual gas and electricity price by 2.4 percent, it said on Wednesday. The cut is the company's second price drop this year and comes after all of the country's 'big six' suppliers raised their average prices around 10 percent in April in line with an increase in the energy regulator's price cap.
Moody's Investors Service ("Moody's") today assigned a first time Baa3 long term Issuer Rating to Spain-based wind turbine technology company Siemens Gamesa Renewable Energy, S.A. ("Siemens Gamesa" or "SGRE").
Rating Action: Moody's erteilt Baa3-Emittentenrating mit stabilem Ausblick für Siemens Gamesa. Global Credit Research- 07 May 2019. Frankfurt am Main, May 07, 2019-- Moody's Investors Service hat gestern ...
The steady decline of British wholesale gas prices shows no sign of reversing this summer, which should provide some relief to households when it is reflected in a lower price cap on energy tariffs this autumn. A cap on default electricity and gas bills - a flagship policy of British Prime Minister Theresa May to end what she called "rip-off" prices - came into force in January to set a maximum price suppliers can charge consumers on certain tariffs. Energy market regulator Ofgem said it would remove around 1 billion pounds of overcharging from consumer bills by forcing suppliers to limit the price of their default tariffs to the level of the cap, or below.
The number of British customers switching energy supplier in the first quarter of 2019 rose by 12 percent compared with the same period last year, data from industry group Energy UK showed, despite a government price cap which began in January. Energy regulator Ofgem was told by parliament last year to set the price limit after lawmakers said customers on the most commonly used standard tariffs were being overcharged for electricity and gas. Prime Minister Theresa May had called the tariffs a "rip-off".
Banks active in Latin America have earmarked potential green loans for corporate borrowers, which seek to advance environmental, social and governance (ESG) criteria, despite some companies’ reluctance to allocate resources to environmentally-friendly operations. To date, just two companies have raised green loans in Latin America. Spanish utility Iberdrola raised US$400m for its Mexican subsidiary in April 2018 and Peruvian conglomerate Ferreycorp in November signed a US$70m loan with BBVA.
Announcement: Moody's announces completion of a periodic review of ratings of Iberdrola S.A. London, 29 March 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Iberdrola S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Spain's main electricity providers have reached an agreement to renew the life of the country's oldest nuclear plant until its planned closure, the company operating the site said on Friday. The Almaraz plant in Western Spain hosts the first two nuclear reactors slated for closure in a calendar which foresees all seven in the country going offline between 2027 and 2035. Phasing out nuclear power, which provides about a fifth of Spain's electricity, is part of a package of energy market proposals that was one of the last initiatives of the Socialist government before parliament was dissolved before a general election next month.
FRANKFURT/ESSEN, Germany (Reuters) - Utility RWE is sticking with its coal power plants, its chief executive said on Thursday, holding out for more compensation under a German landmark plan to abandon the fuel in exchange for payments. Under proposals hammered out by a government-appointed commission earlier this year, Germany is to fully phase out coal as an energy source by 2038, hitting operators of such plants including RWE, Germany's largest electricity producer. The plan foresees that 3 gigawatts (GW) of lignite capacity need to be shut down by 2023 in Germany, a move that could cause 2,700 job losses at RWE, CEO Rolf Martin Schmitz said at the group's annual press conference.
SAO PAULO/BRASILIA, March 11 (Reuters) - Shareholders of Neoenergia SA will soon seek advisers to relaunch an initial public offering (IPO) by the Brazilian power company controlled by Spain's Iberdrola, a person with knowledge of the matter said on Monday. Minority partners Banco do Brasil and Brazilian pension fund Previ intend to partially sell their shares in the offering, added the source. Banco do Brasil and Previ declined to comment on the matter.
MILAN/LONDON (Reuters) - Italy's Eni and Edison have emerged as the strongest suitors to buy utility Ascopiave's retail customers as they prepare rival bids for a business worth up to 600 million euros (515.4 million pounds), sources told Reuters. Ascopiave, one of Italy's biggest gas utilities, is looking to sell a majority stake of a portfolio of more than 700,000 clients as it seeks to focus on its gas distribution network business in the north east of Italy. Its portfolio is one of the largest still up for grabs in the Italian market, six sources said.
Britain plans to generate a third of its electricity from offshore wind farms by 2030 and boost the value of exports of offshore wind services and equipment to 2.6 billion pounds a year, the government said on Thursday. Britain, which aims to lift industrial productivity as it leaves the European Union, is the world's biggest offshore wind market with almost 40 percent of global capacity. On and offshore wind turbines met 17 percent of UK power needs in 2018.
Drax, which has the capacity to provide electricity for around 13 million homes, converted the fourth of its six former coal-fired plants to use biomass wood pellets last year, ahead of Britain's plans to phase out coal plants by 2025. Drax aims to replace the two remaining units with gas plants, but CEO Will Gardiner said this depended on the new plants receiving government support.
Spanish energy company Iberdrola said on Tuesday it will speed up its investment plans, the majority of which will be spent on its networks and renewables businesses, as part of its four-year strategy to 2022. The leading global wind energy producer said total spending in the period will amount to 34 billion euros ($38.61 billion), higher than the 32 billion euros it expected to spend. In its home market, where the outgoing Socialist government recently disclosed its draft proposal to decarbonise the economy, Iberdrola said it will spend 8 billion euros in the period, earmarking 4.2 billion euros for renewable assets.