Iberdrola

2022 - 5 - 31

Post cover — Image courtesy of "Independent.ie"

Third energy supplier pulls out of this market (Independent.ie)

Spanish energy supplier Iberdrola said it is exiting the Irish gas and electricity retail market. It comes after Bright Energy and Glowpower pulled out of the ...

“So exits and consolidation were always likely,” he said. Daragh Cassidy, of price comparison site Bonkers.ie, said at one stage there were 14 residential energy suppliers in Ireland, a huge number given the small size of the market. It comes after Bright Energy and Glowpower pulled out of the Irish market in the past few months, due to surging wholesale energy costs.

Iberdrola to exit Irish gas and electricity market (RTE.ie)

Spanish energy supplier Iberdrola has announced it is exiting the Irish gas and electricity retail market due to market conditions and pricing here.

Please review their details and accept them to load the content. Iberdrola is the second supplier to exit the Irish market in recent months, following Bright's exit at the start of the year. "While the decision by Iberdrola to exit the supply market for commercial reasons is disappointing, there are still a number of suppliers of both electricity and gas to provide options for customers with wide range of tariffs to suit customer's needs." Aoife MacEvilly, Commissioner at the CRU, said the Supplier of Last Resort process will ensure that Iberdrola Energy customers will not have any interruption to their electricity or gas supply and customers do not need to take any immediate action. Iberdrola added that there will be no disruption to supplies and that the movement will take place on a date to be determined by the CRU. It said that the regulator has been asked to initiate the automatic transition of Iberdrola customers' gas and electricity accounts to its designated suppliers.

Iberdrola axes Irish energy supply business (The Irish Times)

Spanish energy group Iberdrola plans to pull the plug on its Irish electricity and gas supply businesses, hitting up to 32,000 homes.

The regulator said former Iberdrola customers will be able to choose to switch to an alternative suppliers themselves after a short standstill period with either Bord Gáis or Electric Ireland. “Despite our best efforts, it’s become increasingly clear that the dynamics and pricing within the Irish energy supply market mean we will not be able to achieve what we want for our retail business in Ireland,” said a spokesman. According to a statement, industry watchdog, the Commission for the Regulation of Utilities (CRU), will transfer gas customers to Bord Gáis Energy and electricity customers to ESB subsidiary Electric Ireland.

Bord Gáis and Electric Ireland to take over customers as another ... (thejournal.ie)

Iberdrola plans to make a “controlled exit” from the Irish energy supply market.

The customers will be transferred to Bord Gáis Energy automatically and do not need to take any action for the switch, though may wish to shop around for a new supplier. In a statement, a spokesperson for Iberdrola’s retail business in Ireland said it became “increasingly clear” that dynamics and pricing in Ireland meant it would “not be able to achieve” its aims in Ireland. Iberdrola has notified the Commission for Regulation of Utilities (CRU) that it plans to make a “controlled exit” from the Irish energy supply market and asked the CRU to transition its customers to new suppliers.

Gas and electricity supplier Iberdrola to exit Irish market (Irish Examiner)

The Spanish energy supplier said that market conditions and pricing were posing obstacles to the planned commercial growth of the firm.

Bord Gáis Energy confirmed that gas customers of Iberdrola would not experience any disruption to their gas supply. This includes plans to develop 3 gigawatt of offshore wind, in partnership with DP Energy, as well as the completion of battery energy storage system projects. It noted that market conditions and pricing were posing obstacles to the planned commercial growth of the firm.

Iberdrola exit another sign of energy market strain (RTE.ie)

Iberdrola's announcement that it plans to cease offering gas and electricity here is a signal of a wide and growing set of complex problems such providers ...

No wonder then that the Taoiseach is warning of "rocky territory" ahead when it comes to high energy prices. "No wonder then that the Taoiseach is warning of "rocky territory" ahead when it comes to high energy prices" According to Bonkers.ie, at one point there were 14 supplies of gas and electricity in Ireland which it said is a huge number given the small size of the Irish market. In other words, it is not making much money, and given the dynamics of the global energy market and the competition it is facing here, it is cutting its losses after three years of trying and getting out. It said that a strategic review had found that "market conditions and pricing – exacerbated in recent months with the unprecedented increase in global wholesale energy costs – were a barrier to the planned commercial growth and ambitions for the business..." Such is the scale and the level to which they are embedded in the market, the large energy providers here have had little choice but to suck it up.

Iberdrola seeks fast-track aid for E-vehicle purchases in Spain - La ... (La Prensa Latina)

Madrid, June 1 (EFE).- The Spanish power company Iberdrola's liberalized business director, Aitor Moso, has requested that aid to consumers for the purchase ...

Moso noted that the period from when a permit to install an electric charging point begins to be processed until the license is granted averages more than 600 days, a time “which makes it difficult to develop public charging points and makes people have a harder time making the decision to opt for an electric vehicle.” In statements to Efe, Moso on Wednesday criticized that aid provided in Spain is not “as efficient or effective” as in the rest of Europe, despite the fact that electric vehicles account for 10% of the total number of cars sold nationwide since the beginning of the year. Madrid, June 1 (EFE).- The Spanish power company Iberdrola’s liberalized business director, Aitor Moso, has requested that aid to consumers for the purchase of electric vehicles in Spain be accelerated in order to increase sales to a level in line with the rest of Europe.