September 21, 2014 9:16 PM ET

Electric Utilities

Company Overview of Red Eléctrica de España, S.A.

Company Overview

Red Eléctrica de España, S.A. is an electricity transmission system operator in Spain. It establishes the electricity demand forecasts, oversees the operation of the generation facilities, and manages the transmission facilities in real-time, ensuring that scheduled generation in power stations matches consumer demand. The company engages in the transmission of electricity from the generating power stations to the centers for distribution to consumers; and manages the flow of energy between external systems and guarantees third party access to the grid under equal conditions. The company was founded in 1985 and is based in Alcobendas, Spain with additional offices in Sede social, Barcelona, ...

Paseo del Conde de Los Gaitanes, 177

Alcobendas,  28109

Spain

Founded in 1985

Phone:

34 916 50 85 00

Fax:

34 916 50 45 42

Key Executives for Red Eléctrica de España, S.A.

Chairman and Chief Executive Officer
Age: 39
Chief Financial Officer
Age: 47
Nondirector Secretary and General Counsel
Age: 63
Nondirector Deputy Secretary
Age: 49
Director of Communication and Corporate Responsibility
Age: 57
Compensation as of Fiscal Year 2014.

Red Eléctrica de España, S.A. Key Developments

Red Electrica de Espana to Invest EUR 1.277 Million in Xixona Substation Upgrade Project

Red Electrica de Espana plans to invest EUR 1.277 million (USD 1.74 million) in the upgrade of the Xixona electricity substation in the province of Alicante, in order to avoid potential blackouts. The works will affect a land plot of 10,000 sq m (107,639 sq ft) adjacent to the substation, which is located near the CV-800 road connecting the localities of El Espartal and El Vergere. With the project, Red Electrica aims to ensure alternative power feed paths, so that even if a facility is out of service, the electricity supply to consumers can be guaranteed Red Electrica intends to ensure not only the quality, but also the reliability of the supply, as the substations in Alicante will be interconnected by transmission lines.

Red Electrica de Espana Announces Earnings Results for the First Half of Fiscal 2013

Red Electrica de Espana announced earnings results for the first half of fiscal 2013. For the six months, the company posted a recurrent profit of EUR 278 million (USD 368.6 million), up 6.2% year-on-year. Revenue amounted to EUR 893.9 million, rising 6.5% as a result of new installed capacity connected to the grid in 2012. Earnings before interest tax, depreciation and amortization (EBITDA) added 5.3% to EUR 682.7 million and earnings before interest and tax (EBIT) stood at EUR 482.5 million, up 6.3%. Investment in the period came in at EUR 230 million and 95% of the sum was allocated to the national grid's improvements such as the connection of the grid to France, and upgrades in Extremadura, Andalusia and Mallorca-Ibiza.

Red Eléctrica de España, S.A., Annual General Meeting, Apr 17, 2013

Red Eléctrica de España, S.A., Annual General Meeting, Apr 17, 2013., at 12:30 Central European Standard Time. Location: Auditorio del Complejo de los Duques de Pastrana.

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