Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Iberdrola    IBE   ES0144580Y14

IBERDROLA

(IBE)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Britons set for £6 billion energy windfall from network curbs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/24/2019 | 06:57am EDT
The Beaully to Denny power line passes through the Cairngorms National Park near Dalwhinnie, Scotland

LONDON (Reuters) - 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.

Energy firms are under intense scrutiny, with Britain's opposition Labour party last week announcing a plan to nationalise the sector if it comes into power.

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.

The regulator said the package of measures it proposed could result in savings averaging 40 pounds per customer from 2021.

"Our proposals are on track to deliver a tough, fair settlement that strikes a better deal for consumers," Ofgem executive director for systems and networks Jonathan Brearley said as the regulator announced its plan on Friday.


(Graphic - What costs make up a British duel fuel energy bill?,

Under Ofgem’s framework, energy network operators set out their plans for investment and how much they expect this to cost over the period. Ofgem sets the return the companies can make.

Fixed returns have prompted investors to scoop up network assets. Abu Dhabi Investment Authority bought a 16.7 percent stake of the Scotia Gas Networks business from SSE for 621 million pounds in 2016.

Other investors in Britain's energy network include National Grid, Iberdrola's Scottish Power, Australian investment bank Macquarie and Hong Kong's Cheung Kong Group.

National Grid and SSE both said they were disappointed by the equity proposals.

"We believe this is not in the long-term interests of consumers," National Grid said in a statement.

(Reporting by Susanna Twidale; Editing by Alexander Smith)

By Susanna Twidale

Stocks mentioned in the article
ChangeLast1st jan.
IBERDROLA 0.31% 9.122 End-of-day quote.29.98%
NATIONAL GRID PLC 0.11% 900 Delayed Quote.17.77%
ONE STOP SYSTEMS, INC. -2.30% 2.55 Delayed Quote.31.44%
SSE PLC -0.34% 1308.5 Delayed Quote.20.99%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on IBERDROLA
10/18IBERDROLA : will support 33 social projects with more than 85,000 beneficiaries ..
AQ
10/15IBERDROLA : Energy Balance 9M 2019
PU
10/10IBERDROLA : launches a new investigation to clarify its links with CENYT
PU
10/04IBERDROLA : and CESEDEN analysed the role of the Armed Forces and the business c..
AQ
10/03IBERDROLA : and Mercedes-Benz reach a strategic agreement to boost sustainabilit..
PU
10/03UK big six energy firms' 2018 supply profits sank as customers turned to smal..
RE
09/30IBERDROLA : S.A - 'For Iberdrola, the energy transition started 20 years ago'
AQ
09/27IBERDROLA : Renewable energy, key to tackling climate change
AQ
09/27IBERDROLA : "For Iberdrola, the energy transition started 20 years ago"
PU
09/26IBERDROLA : Renewable energy, key to tackling climate change
PU
More news
Financials (EUR)
Sales 2019 37 540 M
EBIT 2019 6 007 M
Net income 2019 3 355 M
Debt 2019 36 287 M
Yield 2019 4,16%
P/E ratio 2019 17,1x
P/E ratio 2020 16,1x
EV / Sales2019 2,51x
EV / Sales2020 2,43x
Capitalization 58 028 M
Chart IBERDROLA
Duration : Period :
Iberdrola Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IBERDROLA
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 9,22  €
Last Close Price 9,12  €
Spread / Highest target 27,6%
Spread / Average Target 1,03%
Spread / Lowest Target -16,7%
EPS Revisions
Managers
NameTitle
José Ignacio Sánchez Galán Chairman, President & Chief Executive Officer
José Sáinz Armada General Director-Finance & Resources
Fernando Lucero Batalla Head-Information Technology & Finance
Íñigo Víctor de Oriol Ibarra External Director
Samantha Catherine Barber Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
IBERDROLA29.98%64 641
NEXTERA ENERGY, INC.33.75%111 382
ENEL S.P.A.34.22%76 647
DUKE ENERGY CORPORATION10.49%69 472
DOMINION ENERGY, INC.14.97%67 528
SOUTHERN COMPANY39.21%63 892