Latest news with #Redeia
Reuters
2 hours ago
- Business
- Reuters
Iberdrola expects no financial impact from potential blackout claims
MADRID, July 23 (Reuters) - Iberdrola ( opens new tab does not expect any financial impact from potential compensation claims in relation to the blackout that hit Spain and Portugal on April 28, Spain's biggest power utility said as it reported half-year results on Wednesday. Redeia-owned ( opens new tab grid operator REE has accepted that the outage was triggered by a surge in voltage but has traded blame with power utilities for the blackout, which caused massive gridlock in cities and left thousands stranded on trains and in elevators across the Iberian peninsula. Internal and external experts analysed the event and concluded that companies within the Iberdrola group were not the cause of the blackout, "nor did they contribute in any way to the occurrence", the company said. Its power and distribution assets contributed effectively to the restoration of electricity supply, the company added. While denying any liability for the power outage, Iberdrola said that any potential claims would be covered by civil liability insurance policies. The group has yet to receive any legal claims related to the blackout. However, Iberdrola did report that the blackout contributed to a one-off hit of 135 million euros ($158 million) in the first half of the year, citing higher costs of services that help to maintain grid stability. The company also reported a 25 million euro charge in Portugal for similar reasons. ($1 = 0.8527 euros)
The Independent
30-06-2025
- Business
- The Independent
Chair of Spanish electricity grid hits out at ‘misinformation' after mass blackouts
The chair of Spain's electricity grid operator Redeia has hit out at 'misinformation' after mass blackouts hit the country and neighbouring Portugal. Redeia has been under scrutiny since the blackout on 28 April, which left vast swathes of Spain and Portugal without power. Beatriz Corredor has consistently deflected blame, pinning the responsibility on power-generating companies. Ms Corredor survived an impromptu shareholder vote on her removal, despite facing intense criticism over a massive power outage that plunged most of Spain and Portugal into darkness in April. The vote took place at a tense shareholder meeting on Monday, where Ms Corredor also pledged record investment. The CEO ruled out setting aside provisions to cover any costs related to the blackout, saying Redeia always followed existing rules and procedures. But Corredor acknowledged risks to its reputation. "The numerous episodes of misinformation ... have intensified pressure and public scrutiny over Redeia," she added. Corredor pledged to defend the company and its workforce "in the face of unfounded, and sometimes very serious, accusations seeking to undermine our reputation". Energy firms, analysts and politicians have called for more investment in Spain's power grids. "The company's next strategic plan will involve the execution of an unprecedented volume of investments," Corredor said, without giving details. Investments have been increasing in recent years and will surpass 1.4 billion euros ($1.6 billion) in 2025, Garcia Merino said. A government report into the incident highlighted Redeia's failure to calculate the correct energy mix as a contributing factor to the grid's inability to cope with a voltage surge that ultimately triggered the outage. Large energy companies in Spain have also voiced criticism regarding the management of the power link with France. Alongside Chief Executive Roberto Garcia Merino, Ms Corredor defended Redeia's actions both before and during the blackout, citing its planning of power sources for voltage control and its management of the interconnector with France. Ultimately, Ms Corredor secured the backing of shareholders, who voted to keep her in position following the unplanned ballot initiated by one shareholder. It took almost 23 hours for Spain's electrical grid to declare that systems were back up and running as normal, with the outage affecting traffic lights, street lamps, payment terminals, and screens. Domestic and international transport was badly hit with metro systems grinding to a halt and communication networks faltering, leaving many wondering what had gone wrong. Hundreds of flights were canceled at airports across Spain and Portugal.
Reuters
30-06-2025
- Business
- Reuters
Renewables account for 59% of Spain's electricity so far this year
MADRID, June 30 (Reuters) - Renewable energy sources covered 59% of the Spanish electricity demand so far this year, national electricity grid operator Redeia's ( opens new tab chair Beatriz Corredor said on Monday. Renewables accounted for a record 56% of electricity demand in 2024, according to Redeia data released in December.
Reuters
25-06-2025
- Business
- Reuters
Portugal says power outage shows need for EU to help fund grid modernisation
LISBON, June 25 (Reuters) - Iberia's blackout in April showed that European grids must modernise to cope with more renewable power generation, and Portugal wants the EU to help finance these investments, its energy minister told Reuters on Wednesday. Energy minister Maria da Graca Carvalho said that unlike in the past, when thermal power plants facilitated grid management with their stable supply, more renewable sources such as wind and solar mean more intermittency and decentralised output which are harder to manage. "The blackout made it clear there is a need for greater modernisation, digitalisation of the grids, applying data science, storing data, in order to understand what is happening in a more complex system and reacting to it," she said. "It requires investment and we have been asking the European Commission to guide Europe in this investment and also help co-finance it because it is also a security issue," she said. The Commission has estimated that to meet its clean energy transition targets, EU countries would need to invest 584 billion euros ($679 billion) to expand and modernise electricity grids by 2030. In May, it launched a public consultation to receive input for the future European Grids Package, which is expected to be finalised by the end of 2025. The Spanish government said in a report last week that grid operator Redeia ( opens new tab had miscalculated the correct mix of energy in the system on April 28, but also blamed some thermal power plants using coal, gas and nuclear, for failing to help maintain an appropriate voltage level. A surge in voltage triggered a cascade of power plant disconnections, ultimately leading to the outage that spread to Portugal. The minister said the report still lacked clarity and Portugal was awaiting an independent report from the European energy regulators' agency ACER to understand what caused the outage and what needs to be done to "avoid future blackouts and, if they occur, to be able to restart (the system) more quickly". ($1 = 0.8605 euros)
Yahoo
21-06-2025
- General
- Yahoo
Spain's grid operator blames power plants for blackout, disputes miscalculation
By Pietro Lombardi MADRID (Reuters) -Spanish grid operator Redeia blamed power plants for the massive blackout that affected the Iberian peninsula in April, as it disputed a government report that said its failure to calculate the correct energy mix was a key factor. While agreeing that a surge in voltage was the immediate cause of the outage, REE-owner Redeia blamed it on some conventional power plants - thermal power plants using coal, gas and nuclear - for failing to help maintain an appropriate voltage. "Based on our calculation, there were enough voltage control capabilities planned" by Redeia, operations chief Concha Sanchez told a news briefing on Wednesday. "Had conventional power plants done their job in controlling the voltage there would have been no blackout," she said. Redeia, which is partly state-owned, also discovered anomalies in the disconnection of power plants in the run-up to the April 28 outage, even though voltage in the system was within legal limits, Sanchez said. A combined-cycle plant that was supposed to provide stability to the system disconnected in the first seconds of the blackout when it should not have, while there was also an anomalous growth in demand from the transport network, she said. Aelec, which represents Spain's main electricity companies including Iberdrola and Endesa, said on Wednesday that "claiming everything was done correctly" while blaming some power plants for the blackout was damaging to the sector's reputation. "The operator failed to safely cover all the system's needs," the lobby added. Redeia on Wednesday released its own full report on the causes of the outage, a day after the Spanish government published its findings. The government's report released on Tuesday said Redeia's miscalculation was one of the factors hindering the grid's ability to cope with a surge in voltage that led to the outage that caused gridlock in cities across the Iberian peninsula and left tens of thousands stranded on trains overnight or stuck in lifts. But Sanchez said the system was in "absolutely normal conditions" at noon just before the blackout and that adding another gas plant to the system to absorb additional voltage would have made no difference. Redeia Chair Beatriz Corredor told the same news briefing she had absolute faith in the company's calculations and that the operator had complied with all procedures and rules. "Red Electrica didn't breach any procedure and has acted diligently," Chief Executive Roberto Garcia Merino said at the briefing, adding that as a result he did not expect the company to face any claims.
