-How FactorEnergia was founded
-Background and origins: the founder recalls a family lineage of entrepreneurship, from a great-aunt who ran a sewing workshop with stores in Barcelona and Madrid to a father who took early steps in business. He reached a point where growth in the financial sector stalled his learning and felt a shift was needed. A connection through a brother introduced him to a retiree from Endesa who warned that the electricity market would liberalize, signaling a potential opportunity. To meet government requirements, the venture had to be a Spanish-registered company with minimum capital and proven experience. Finding an experienced advisor in the electricity distribution space was initially challenging until a local council contact in Lleida facilitated a license application. The ministry accepted the plan, and two investors, Belgian Engie Electrabel and Copcisa, showed interest. The founder drafted a business plan without clear margins, and Copcisa agreed to participate, contributing capital and personnel. The project started taking shape and the first customer arrived in 2000.
-What happened next: not everything proceeded smoothly. Copcisa’s owner, Benet Carbonell, worried about capital exposure. To reassure him, the founder committed to halving his own salary until profitability was achieved. Carbonell also warned that he would dilute his stake if losses persisted. This dynamic underscored a commitment to profitability and independence from external capital. The company began with six employees in 2001 and has since grown to over 300.
-What else has FactorEnergia done over the years?
-International expansion followed. The organization now operates with 14 offices across Spain and has branched into Mexico, Portugal, Bulgaria, and Chile. The leadership continues to explore new markets and opportunities.
The founder did not anticipate this level of growth and notes that revenue in 2022 approached nearly one billion euros.
-Has the company’s structure changed since its inception?
-No. The 2008 financial crisis hit Copcisa hard, leading to strategic investments outside construction. In 2010 a fund called JZ International joined, and later, in 2017, a pension fund from Ontario, Canada, became a key stakeholder. Ownership today sits with Canada-based Canadian at 50%, JZ International at 25%, and the founder at 25%.
-What was the growth pace like?
-Profits began to appear in 2007, underscoring surprising expansion. By 2022 the company reported nearly one billion euros in turnover.
-How is FactorEnergia positioned in today’s market?
-The company emphasizes strong service, competitive pricing, and a diversified energy portfolio that includes gas, electricity, and representation. With more than 250,000 supplies, the aim remains steady growth. Loyal customers and strong market recognition contribute to its ongoing success.
-Who are the major competitors?
-The sector’s big players include Iberdrola, Endesa, and Naturgy. Additional activity comes from oil companies like Repsol and Galp that have entered the electricity space. FactorEnergia remains a smaller competitor but has carved out a niche by prioritizing climate action, which today carries significant value in customer perception and aligns with industry standards certified by the CNMC (National Markets and Competition Commission) [CNMC]. The company also established a renewable energy subsidiary two years prior to this interview to support the energy transition.
-What is viewed as the key to market success?
-Being first matters. The company’s independent licensing story unfolded when the liberalization progressed. The founder recalls presenting documents to the ministry and receiving a direct response from the Minister of Industry at the time, who questioned the venture. The founder believes compliance with regulations was clear and confident in the plan.
-Turning to the present: how is the energy crisis affecting operations?
-The year 2021 saw losses as the company navigated price pressures, despite invoicing around 700 million euros. Since profitability was achieved in 2007, losses marked a rare departure, driven partly by the costs associated with pursuing a public listing and engaging external consultants and advisers. The leadership emphasizes ongoing efforts to consolidate the firm’s position within Spain while acknowledging the advantage of a market dominated by large, long-standing players. The goal remains to strengthen capacity and resilience in the domestic market.
-An update on financials and pricing in 2022
-Despite the prior year’s losses, 2022 proved transformative. The company expanded its customer base, maintained competitive pricing, and honored existing contracts while adjusting terms where necessary. It leveraged fixed-price agreements with independent renewable energy producers to stabilize costs and sustain growth, ultimately boosting market share.
-What is the renewable energy mix and production outlook?
-About 40 percent of the energy purchases come from fixed-price renewable producers, with the remaining 60 percent sourced on the market or imported from France. The company emphasizes that the term 100 percent green electricity depends on certificates of origin, which are currently insufficient at times, but a substantial portion of supply—up to half a million kilowatts in green energy—meets strict green criteria [CNMC]. The organization aims to reach around 75 percent renewable supply by expanding agreements with producers.
-How does FactorEnergia manage pricing advantages?
-The firm benefits from being smaller in scale. A very large utility trying to undercut prices would impact margins more severely due to millions of customers. With a leaner network, it can offer competitive rates without compromising profitability.
-Where could the energy model in Spain head next?
-There is substantial opportunity to position Spain as a leader in affordable energy. The country’s renewable resources offer an edge, and daytime solar output creates potential to lower costs through smarter optimization. The company’s future hinges on continued commitments to the energy transition and strategic investments in solar and other renewables, with a focus on making energy cheaper for households and SMEs alike.
-What are views on electricity taxation?
Tax policy is a mixed bag. While taxes are easy to impose and hard to remove, the company supports responsible taxation that fosters social trust. The broader energy market faces price volatility driven by gas markets and fixed-price contracts, which affects pricing dynamics for different generation sources. Solar, wind, hydro, and nuclear assets are less exposed to gas price swings but still respond to overall market conditions. The general sentiment favors a balanced approach that supports sustainability while maintaining economic vitality.
-Closing reflections on sports ties and future ventures
-When asked about past football affiliations, the founder notes that time and circumstances shifted the role, but the passion for the game endures. He emphasizes that every chapter has value and that future opportunities may involve advisory roles, while recognizing that leadership decisions rest with current partners.
-CreaEnergia: a new venture with a different focus
-The founder traveled to Paris in December 2022 and, inspired by reports on ChatGPT, saw a chance to bring AI to a broader audience beyond large corporate settings. CreaEnergia emerged as a low-cost, highly digital, transparent, and sustainable company with a simple structure and modest governance. The concept targeted families more than SMEs, contrasting FactorEnergia’s emphasis on business clients and industrial users. Early on, a small team developed a conversational AI system capable of interacting with customers while maintaining a neutral voice. A governance approach drew on the methods associated with Jordi Pujol and other public figures to shape user-facing voices. A notable idea was to use a voice associated with transparency and approachability, to handle routine tasks and invoice requests efficiently. The project stressed affordability and minimal bureaucracy, aligning with a lean redress of AI-enabled customer service. The aim was to serve households with a paperless, efficient, modern experience.
-Current status of CreaEnergia
-The venture is new and still small. The team consists of eight members, and the project is expected to gain momentum over time as it grows toward broader adoption. The company remains focused on building a scalable, digital-first platform that complements FactorEnergia while offering a distinct proposition to families.