Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

IBERDROLA

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

UK energy network firms rattled by Labour state ownership plan

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/15/2019 | 09:58am EDT
Migrating starlings fly at dusk past electricity pylons silhouetted by the sunset of a clear autumn evening in the Kent countryside,  in Graveney, Britain

LONDON (Reuters) - 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. All of them criticised the move.

"Aside from extensive disruption, paying for state ownership and control of energy networks would require full compensation for owners at great expense to taxpayers, or risk destabilising UK listed utilities," an SSE spokeswoman said.

Under Labour's plans, regional energy agencies would also be set up responsible for gas and electricity distribution, decarbonising the heat sector and reducing fuel poverty.

Labour said an overhaul was needed to prevent network firms generating "unjustly high profits" at a time when there is pressure to lower the cost of energy for households.

"Private ownership of energy networks has led to excess profiteering at the expense of investment in infrastructure," the Labour document said.

Scottish Power is this year investing 7 million pounds every working day building more wind farms and upgrading the electricity grid, a spokeswoman for the company said.

British regulator Ofgem was told by parliament last year to cap energy prices after lawmakers said customers were being overcharged. Prime Minister Theresa May had called the tariffs a "rip-off".

The regulator also said it planned to cut 5 billion pounds from consumer bills over five years from 2021 by slashing the amount gas and electricity network firms can return to shareholders.

Ofgem data shows network costs make up around 25 percent of an average British household gas and electricity bill.

F
or a graphic on What costs make up a British duel fuel energy bill?, see -https://tmsnrt.rs/2TDnSKs

Concerns that the nationalisation would be below market value dragged shares in SSE and National Grid down 1.9% and 0.6% respectively.

"These proposals for state ownership of the energy networks would only serve to delay the huge amount of progress and investment that is already helping to make this country a leader in the move to green energy," National Grid said in a statement.

(Reporting by Susanna Twidale in London, Muvija M and Shashwat Awasthi in Bengaluru; Editing by Kate Holton and Dale Hudson)

By Susanna Twidale

Stocks mentioned in the article
ChangeLast1st jan.
IBERDROLA 0.56% 9.338 End-of-day quote.33.06%
NATIONAL GRID PLC 0.56% 855.1 Delayed Quote.12.08%
SSE PLC -0.05% 1097 Delayed Quote.1.43%
VALUE8 N.V. -1.45% 5.44 Delayed Quote.14.77%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on IBERDROLA
08/13NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/13NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/13IBERDROLA : sells 40% of East Anglia One to GIG the entire wind farm is valued a..
AQ
08/13NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/13NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/13IBERDROLA : Scottish Power owner sells £1.6bn stake in new East Anglia wind farm
AQ
08/13NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/12NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/12NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08/12NEWS HIGHLIGHTS : Top Energy News of the Day
DJ
More news
Financials (EUR)
Sales 2019 37 305 M
EBIT 2019 5 986 M
Net income 2019 3 335 M
Debt 2019 36 259 M
Yield 2019 4,03%
P/E ratio 2019 17,7x
P/E ratio 2020 16,6x
EV / Sales2019 2,56x
EV / Sales2020 2,45x
Capitalization 59 402 M
Chart IBERDROLA
Duration : Period :
Iberdrola Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IBERDROLA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 8,74  €
Last Close Price 9,34  €
Spread / Highest target 8,67%
Spread / Average Target -6,41%
Spread / Lowest Target -25,0%
EPS Revisions
Managers
NameTitle
José Ignacio Sánchez Galán Chairman & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Íñigo Víctor de Oriol Ibarra External Director
Samantha Catherine Barber Independent Director
Inés Macho-Stadler Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
IBERDROLA33.06%65 511
NEXTERA ENERGY INC27.29%104 986
ENEL SPA23.63%70 311
DUKE ENERGY CORP5.72%66 434
DOMINION ENERGY INC.7.74%63 213
SOUTHERN COMPANY31.94%60 287