Since January 1st the Wholesale and Retail Business [PDF] includes: Spain, Portugal, United Kingdom, Mexico and Continental Europe have been integrated.
This integration focuses on launching a new form of management to maximize the benefits of Group working on key points:
- Optimisation of the organizations
- Delivery of additional synergies
- Increased operational efficiency
- Identify activities with growth potential
Generation & Supply EBITDA falls 7.4% to €1,735.2 million driven by lower results and higher costs in Spain (-10,5%) and regulatory obligations and CO2 prices in the United Kingdom.
During the first nine months, EBITDA by geographical areas have been:
- Spain: In Spain Ebitda came to €1,739.8 million, due to a -10.5% drop in production and higher costs in the generation mix. Weaker performance in Gas business vs 2014 due to non recurring. Levies up €64 million, basically due to € 111 million of CO2 allowances accounted for in Q2 2014.
- United Kindom: In the UK, Ebitda came to €182.2 million due to higher costs (Carbon Tax). Retail business results decrease as a consequence of rise in non energy costs (ROCs and T&D) and extraordinary costs related to the difficulties in the deployment of new IT system (FIS). Customer numbers maintained.
- Mexico: In Mexico it rose to $379.7 million basically as a consequence of the improvement driven by the renegotiation of contracts with negative impact in 9M 2014.
WHOLESALE AND RETAIL BUSINESS EBITDA BREAKDOWN (%)