Overview
- Endesa reported 2025 net profit of €2.351 billion, up 18% year on year, and said it will raise its dividend by 20%.
- The company earmarked €5.5 billion for distribution networks in 2026–2028, contingent on a government decree lifting 2013 investment limits and on full recognition of those outlays.
- Regulatory risk remains after the CNMC set a 6.58% allowed return for the next six years, below the sector’s earlier expectations.
- Enel’s updated group plan totals €53 billion through 2028, with about €26 billion for networks and €20 billion for renewables, concentrating roughly 21% of network capex in Spain and Portugal.
- Endesa cites urgent grid needs, noting distribution saturation at 88% nationally and 94% for its network, approval of only 18% of new connection requests, rising data‑center demand, and a forecast of 315 TWh electricity consumption by 2030.