Overview
- Endesa reported stronger year‑to‑date earnings with a net profit of €1,962 million to September and reconfirmed plans to exceed €2.4 billion of ordinary net profit for 2026.
- The company increased gross investment to €1,622 million in the first nine months, directing roughly €900 million to distribution upgrades to handle higher demand and new connections.
- Redeia posted a €410.3 million net profit to September and raised its nine‑month capex to €1,138.9 million, with about €1,092 million routed to Red Eléctrica for transmission works.
- Redeia reported concrete project progress including submarine cables laid in the Spain‑France corridor, the Portugal‑Galicia 400 kV link in service, and the start of works on the Balearic interconnection.
- Recent regulatory shifts and security‑of‑supply steps such as higher allowed investment limits and the Almaraz licence extension are lifting regulated margins, but capacity‑market auctions and final allocation steps remain to be implemented and will shape near‑term revenues.