Iberdrola

E-Commerce: Stepping through the portal

In March this year Eutilia, the consortium responsible for the new European procurement portal, was incorporated as an independent business. Junior Isles looks at the formation of the consortium and how the portal could affect the way Europe's utilities do business.

Companies

Spanish electricity major Endesa has announced plans to expand overseas following its failed bid to merge with Iberdrola. The group will sell €5bn ($4.6bn) of assets in Spain to help finance acquisitions in Europe and Latin America.

It’s all good sport

Making sense of alliances and acquisitions is not always easy. For example, take the news of what has been dubbed as the "biggest alliance in the history of sport".

Moody’s confirms Iberdrola’s A1 rating following failure of merger talks with...

Moody's has today confirmed the A1 senior unsecured long term debt ratings of Iberdrola International BV guaranteed by Iberdrola SA with a stable outlook.

Europe

German utility E.ON sought to clarify market rumours in January and confirmed that it is in takeover talks with PowerGen of the UK. The move is in line with E.ON's desire to become a leading European utility with global operations.

EUROPEAN POWER AND GAS – Collision course

Across Europe, the convergence of gas and electricity is continuing. The drivers for this trend are clear, but recent rises in natural gas prices presents new uncertainties.

Eleven leading European utilities set up electricity portal

A group of eleven of Europe's leading utilities have signed an agreement in order to set up Eutilia, an independent portal which will enable the procurement of supplies through the Internet.

Companies

UK energy group PowerGen plc has completed its $3.2bn acquisition of LG&E Energy Corp. of the USA, and said it was confident of hitting its year-end target of reducing debt. PowerGen and LG&E formally began joint operations in December after receiving all the necessary approvals.

CNE gives authorisation to Endesa and Iberdrola power plants

The CNE, the Spanish regulatory body for the energy sector, is to allow Spanish electricity groups Endesa SA and Iberdrola SA to proceed with their applications to construct electricity plants in Tarragona.

Expansion: REE aims to become the world’s biggest electricity network

Spanish electricity network Red Electrica de Espana (REE) hopes to acquire the electricity transport lines operated in Spain by Spanish energy giants Endesa SA and Iberdrola SA.

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