Iberdrola

Europe utility mergers wane amid spats over control

It was supposed to be the year of the merger for Europe's utilities, with deregulation of the $227 billion electricity industry prompting companies to get bigger and protect themselves from increased competition.

A test for competition

Endesa and Iberdrola— Spain's largest electric utilities— claim that their planned merger will actually help to speed up competition. But can they convince the regulator? Si?n Green reports.

Madrid: Repsol abandons takeover bid

Repsol YPF SA has scrapped its hostile takeover bid for Iberdrola SA, following strong opposition to the move from the Spanish government.

Spain’s Endesa, Iberdrola agree to merge

Spain's Endesa and Iberdrola reported they have reached an agreed to merge, creating the world's largest electricity utility in number of customers and the fifth largest based on enterprise value.

Spain plans unconventional deregulation strategy

Spain's unconventional deregulation strategy has helped to put the country firmly on the radar screens of global operators.

European energy groups face credit rating pressure

Moody's Rating Agencies shows that the Proportion of top graded European utilities has dropped from 100 per cent to less than half in the last 10 years.

Union Fenosa to build Mexico’s Tuxpan 3-4

Union Fenosa Desarrollo and Expansion Exterior will build in Mexico the combined-cycle thermoelectric plant Tuxpan III and IV, under the terms of independent power producers.

Europe

System testing for the new electricity trading arrangement (NETA) in the UK is encountering software problems, raising concerns over the launch date. Earlier this month Ofgem abandoned plans for the launch date which was scheduled for November 21.

News Digest

Brazil: Alstom, leading the CEITAIPU consortium, has won an international bid for design, production, erection and commissioning of the last two 700 MW generating units at Itaipu.

Around the Globe – Companies

Strong growth in EnronOnline transactions has helped to lift the second quarter earnings of US energy group Enron by nearly one third. The company's net income rose from $222m for 2Q 1999 to $289m for 2Q 2000 on a revenue increase of 75 per cent.

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