Iberdrola

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.

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.

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