The CEO of Endesa, José Bogas, stated this Wednesday that the company has received requests to connect the equivalent of 15 terawatt hours (TWh) for supply to data centers in Spain until 2030. This figure represents 6.1% of total electricity consumption in 2023, which was about 245 TWh. This is the consumption associated with Endesa’s infrastructure, which represents 44% of the Spanish distribution network.
During a conference with analysts, Bogas explained that they expect another 15 TWh extra demand to be added to that figure until 2030 as a result of the process of electrification of the economy. In total, 30 TWh more, which would represent around 11% of all electricity consumption that the Government foresees for 2030 throughout the country in the National Integrated Energy and Climate Plan (PNIEC).
The executive, who has indicated that they maintain direct conversations with the end users of these centers and “the intermediaries,” stated last April that “there are more and more cases” of data centers who rule out coming to Spain due to lack of network and stressed that in Ireland these installations account for 20% of that country’s electricity demand, when in Spain they are currently only 0.2%. He then stressed that “practically double” the current investment in networks is required to meet the objectives of the PNIEC.
Bogas has said that there are “signs of recovery” in electricity demand in Spain. He has been “confident” that regulators will improve the remuneration of the networks, because they are “absolutely” convinced of the importance of this issue to facilitate the deployment of renewables.
Asked about the scheduled closure of nuclear power plants, he pointed out that “it is what we have now” and recalled that he has already said “many times” that from an “intellectual” point of view he is against this blackout, which in the United States has been postponed beyond the 40 years for which the plants were designed.
According to Bogas, there are “many reasons” to maintain them. They will do “what the Government of Spain and its energy policies indicate for the future, that is clear to us”, but they will continue “trying to convince the Government” that maintaining the reactors is “good for Spain”.
The subsidiary of the Italian Enel earned 1,404 million until September, 32.6% more, and reaffirmed that it is in a comfortable situation to reach the high range of the objectives set for 2024: close the year with a gross operating profit (Ebida) of between 4,900 and 5,200 million and a net ordinary result of 1,600-1,700 million.
Revenues were 15,765 million, 17.9% less, and Ebitda reached 3,881 million, 15.7% more. All business lines had a positive contribution. Both those that operate in the liberalized market (Generation and Marketing, which total 425 million with a year-on-year increase of 20%) and in the regulated market (Distribution, with an increase of 7% after contributing 102 million more than in 2023).
This positive behavior was fundamentally explained by the evolution of Ebitda, especially in the gas business, which has recovered from the complex market situation experienced in 2023.
The group’s investments were 1.3 billion. Endesa has 10,100 megawatts (MW) of renewable power – hydroelectric, solar and wind – operational on the Peninsula, 800 MW more compared to the end of September 2023.
Naturgy earns 1,580 million
For its part, Naturgy earned 1,580 million until September, with an Ebitda of 4,292 million, according to the update of the main business figures that it reported this Wednesday. The company will finally present its new strategic plan in February 2025, along with its 2024 results.
With these numbers as of September, the group chaired by Francisco Reynés confirmed its expectations for the current year as a whole, above the market consensus, and that they would exceed 5.3 billion Ebitda and 1.8 billion net profit.
In 2023, the company, the first gas company and the third largest electricity company in Spain, achieved a record net profit of 1,986 million and an Ebitda of 5,475 million.
The energy company, which stopped publishing its quarterly results to stick to semi-annual results, has advanced these figures in an energy context that continues to be marked by a sharp drop in energy prices both in Spain and internationally.
“These results demonstrate Naturgy’s ability to adapt to the market. The company has continued to make solid and determined progress in its transformation to resolve the energy trilemma,” Reynés said in a statement.
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