EC to put takeover ball back in Spanish court

15 November 2005 - European Union competition commissioner Neelie Kroes is expected to today refer the proposed €22.5bn ($26.3bn) takeover of Spanish energy group Endesa by Gas Natural to Spain's competition authorities

The Commission has found that neither of the two groups reports more than a third of its European turnover outside Spain, the threshold above which a deal falls under the scrutiny of the European Commission.

Gas Natural had argued that Endesa's petition to Brussels to review the case was unwarranted and designed to delay a final decision about whether the hostile takeover would distort competition in the home market. Gas Natural has agreed to sell up to €9bn in assets to Iberdrola, Spain's second-biggest generator in an attempt to allay concerns over market domination.

A link-up between Gas Natural and Endesa would raise concerns about increased market share, vertical integration between Spain's main gas supplier and largest generator, and gas and electricity transport monopolies in some regions of the country.

The deal has been approved by the National Energy Commission, which is concerned mainly with whether the combined group would be able to meet supply contracts with households and businesses.

Sponsored by FLSmidth
Follow Power Engineering on Twitter
Latest News

Fluor awarded EPC contract for Dominion’s Greensville County Power Station

Fluor Corp. (NYSE: FLR) was awarded an engineering, procurement, construction (EPC) and commi...

California Tribe to install renewable, energy storage hybrid

The Bear River Band of the Rohnerville Rancheria will install the first California Tribal ren...

TEP issues RFP for 10MW energy storage facility

Tucson Electric Power (TEP) is seeking bids for the design and construction of a 10-MW utilit...

DOE awards geothermal research grants in NV, UT, CA, ID, OR

The U.S. Energy Department awarded grants Monday to scientists in Nevada and four other weste...

State officials mark construction start for wind farm

State officials said Monday that the beginning of construction of what could be the nation's ...

Beaver Valley nuclear unit taken offline for scheduled refueling, maintenance outage

FirstEnergy Nuclear Operating Co.’s (FENOC, NYSE: FE) 939-MW Beaver Valley Power Station Unit...

State officials mark construction start for wind farm

State officials are marking the beginning of local construction for what is expected to be th...

295 MW of new generation capacity comes online during March, FERC reports

The amount of new electric generation capacity commissioned during March was a relatively mod...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Industry Wire News

DEKRA to Conduct ASRP Training Program at TUDOR United SportsCar Championship Race

DEKRA to Conduct ASRP Training Program at TUDOR United SportsCar Championship Race

New Generation Power International Announces Joint Venture in Turkey

New Generation Power International Announces Joint Venture in Turkey

ESCO APS-438 Boiler Tube Panel Saw Cuts Square in Any Position

ESCO APS-438 Boiler Tube Panel Saw Cuts Square in Any Position

Plasma Air International Welcomes Daniel Dowiak as National Sales Manager

Plasma Air International Welcomes Daniel Dowiak as National Sales Manager

Scorpio Bulkers Inc. Announces Financial Results for the First Quarter of 2015

Scorpio Bulkers Inc. Announces Financial Results for the First Quarter of 2015

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>