|Bid||9.47 x 0|
|Ask||9.47 x 0|
|Day's range||9.40 - 9.65|
|52-week range||8.59 - 12.57|
|Beta (5Y monthly)||0.53|
|PE ratio (TTM)||19.05|
|Earnings date||27 Oct 2021|
|Forward dividend & yield||0.42 (4.40%)|
|Ex-dividend date||08 Jul 2021|
|1y target est||11.38|
(Reuters) -Power firms including wind energy leader Iberdrola and investors have complained to European officials about a Spanish move to claw back company profits and channel them to consumers hit by high energy prices, a letter seen by Reuters showed. In Spain, where flexible tariffs leave consumers more exposed to the price spike, the government has imposed charges on companies seen to have benefited from the rise. But power firms have protested, saying they are already committed to selling all of their base power production for this year and more than three-quarters of 2022's generation at prices far below current highs.
Wind power giant Iberdrola and solar project developer Prosolia Energy will jointly invest 850 million euros ($996 million) in five solar parks in Iberia by 2025, including one of Europe's largest power plants in Portugal, Prosolia told Reuters. Through the deal, the companies aim to develop total new capacity of 1.5 gigawatts (GW) in four photovoltaic parks in Spain and a mega-plant in Portugal which is almost equal to the country's entire current installed capacity, by 2025, Prosolia Energy executive board member Pedro Pestana Aguiar said. Solar photovoltaic technology captures sunlight and turns it into electrical energy.
Several European power firms have been shut out of bumper revenues from record high gas and electricity prices as their sales are largely locked in at lower prices, and face extra pressure from governments acting to protect consumers. Power generators say government intervention could prevent longer-term investment needed to drive the bloc's energy transition plans, while smaller retail suppliers without the capital to hedge could go bust - limiting choice for consumers. Benchmark European gas prices have soared some 250% this year due to a number of factors such as low stock levels, high demand in Asia and infrastructure outages, taking power prices to record highs across Britain and Europe.