naturalness launched a flat rate of 55 euros per megawatt hour (Mwh) for industry and for a while three years. The initiative allows companies to “stabilize their energy budgets” as if an energy supply agreement (PPA) was signed in the medium term, according to sources from the group headed by Francisco Reynés.
Through the initiative, called Industrial Gas Commitment, the company offers industrial gas customers “a stable and competitive price in the current energy scenario”. “We want to contribute” Increasing the competitiveness of Spanish companies, increasing visibility and reducing its exposure to international energy price volatility. We’ve done this before, and it’s a testament to our commitment to customers and society,” Reynés explained.
The energy company reissued its action from early September 2021, when it launched the industry-leading “Light Contracting Initiative”, now in gas. mitigate the effects of high electricity pool pricesThis meant that all its marginal production (equivalent to the consumption of 4,000,000 households) was sold below 67 Euro/MWh set by the Government.
On the other hand, “a high volatility scenarioNaturgy posted a normal net profit of 354 million euros, up 9%, and a normal operating profit of 1.072 million, up 4%, in the first quarter of this year. The first quarter of 2022 displayed an unbalanced behavior in countries. The company operates and variable evolution of demandreflecting macroeconomic scenarios, energy trends and various weather conditions.
In general, the period was marked by the recovery of international activities; The Spanish operation, however, continued to put pressure on sales margins, affected in part by contracts that did not reflect the global rise in gas and electricity prices.
Naturgy, which sold all its marginal electricity generation capacity to end customers in the long run below the government-set price of 67 Euro/MWh, had to go to the pool to buy electricity due to low hydropower. On the other hand, production activity and renewable affected by external factors and regulatory regulations.
Network activity grew, mainly driven by international activity, which recorded rate updates across various geographies reflecting inflation and currency depreciation in previous periods. Networks in Spain remained stable despite regulatory influences and lower demand in the second quarter of the quarter.
Naturgy increased its total investments by 32% to 259 million euros. Net debt in finance was €13,062 million, 1.8% higher than at the end of 2021, after paying a dividend of €0.5/share in the first quarter and supported by cash generation.