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Iberdrola, Endesa and Naturgy Race to File Almaraz Life-Extension Bid by Month’s End

The owners plan to proceed despite the government not scheduling the high-level meeting they sought.

Overview

  • CNAT shareholders met Tuesday and reaffirmed their intent to postpone Almaraz’s closure while maintaining the plant in a continuity scenario.
  • The three utilities are preparing a formal request to extend the operating licence to 2030, beyond the current shutdown schedule for 2027 and 2028.
  • Roughly ten days of internal approvals are needed, including convening an extraordinary assembly, and strategic decisions require unanimous consent despite Iberdrola holding about 53%.
  • The Nuclear Safety Council has asked for information by November 1 to start the decommissioning study of the first reactor, a process that could advance in parallel with the extension bid.
  • The government has not set the requested meeting with Vice President Sara Aagesen, and the companies say they will defer pushing for tax cuts while pursuing the licence extension.