The CEO of Endesa, José Bogas, recalled this Wednesday that the company has a budget of 2.8 billion euros, 200 million more than the previous year, ready to be invested in distribution networks. But he has linked the materialization of these investments to the new Integrated National Energy and Climate Plan (Pniec) “eliminating limits on investment and that the remuneration is adequate to achieve a reasonable profitability. He said this during his speech before the General Shareholders' Meeting that Endesa held this Wednesday in Madrid.
"Without networks there will be no energy transition," the manager insisted after noting the access problems that various industries are already having and has placed special emphasis on data centers. "The current regulation on distribution is making us lose opportunities at the country level to attract companies, talent and industrial fabric”, he assured with a special reference to those data centers. An industry, which in his opinion, should see Spain as a reference place both for qualified labor, electrical infrastructure and fiber, but "the lack of network capacity does not allow it to be carried out," he said. warned him.
To do this, Bogas asks to adapt the regulation to the European environment in order to channel the base attractiveness that the sector has. “It is necessary to streamline the procedures and to remunerate the capital in a reasonable manner and at the level of other countries in our environment, to guarantee the recovery of the costs incurred and recognize the investments made,” he pointed out.
The first director of Endesa has also taken advantage of his meeting with shareholders to review the 2024-2026 strategic plan, which he has described as profitable, flexible and focused on financial and environmental sustainability.
Along these lines, Bogas has confirmed the objective of placing the net ordinary result between 2,200 and 2,300 million euros by 2026, with an ebitda (gross operating result) of between 5,600 and 5,900 million, with a dividend per share of 1.5 euros at the end of the period. The investment objective of 8,000 million euros is also maintained, of which 90% will be allocated to the aforementioned distribution, the increase in renewables and to customers.
In the same continuous line, Endesa maintains the commitment to be a Zero Emissions company in 2040 and reach 93% of electricity production free of emissions in the Iberian Peninsula by 2026, although it has set 2027 as the deadline to close production. with coal that "is kept in the Balearic Islands for security of supply," he acknowledged.
In this sense, it foresees a decrease in gas uses in combined cycles due to the advance of renewable production. “We have crossed Cape Horn on our journey towards decarbonization and electrification, but we still have a journey ahead of us,” commented Bogas.
In the area of corporate governance, the Endesa Shareholders' Meeting has approved an expansion of its board of directors to up to 14 members to include Michaela Mossini and Elisabetta Colacchia as directors, as well as Guillermo Alonso, and the appointment of Flavio Cattaneo is ratified. who was elected by co-option, Stefano de Angelis, Gianni Vittorio Armani, as well as the re-election of Eugenia Bieto Caubet and Pilar González de Frutos.
The CEO has also taken the opportunity to dedicate heartfelt thanks and special mention to Alicia Koplowitz, who is leaving the company's management body.
