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Endesa’s power generation decreased by 7% in 2023 (Spain)

The Spanish energy group Endesa (part of the Italian group Enel) has released its 2023 results, posting an ordinary net profit of €951m (-60% compared to 2022) in part due to a decrease in gas demand (-11%), lower prices, gas regulatory changes in Spain during 2023, and extraordinary charges (including an LNG contract-related arbitration ruling and a temporary energy tax). 

Endesa’s installed capacity in Spain stood at 21 GW in 2023 (-4%), including 9.9 GW of renewables (7%). Including nuclear, 78% of Endesa's installed capacity is free of CO2 emissions. The group’s total electricity production decreased to 60 GWh (-7%), of which 14 TWh (+18%) came from renewable sources. The company closed its last coal-fired power plant in Spain, in As Pontes, and made progress in the implementation of the first two fair transition processes in the Iberian Peninsula: Andorra (Spain) and Pego (Portugal).

The group sold 245 TWh of electricity to 30 million customers in Spain, including 20 TWh on the regulated market, and distributed 136 TWh (+3%) of electricity in 2023. The volume of electricity customers in the free market grew to 6.9 (+1%). Endesa also reported that of the €2,304m investment made during 2023, 72% was allocated to the development of its distribution network and renewable energies.

The company sold 65 TWh of gas in 2023, a 1.5% increase compared to 2022, and sold another 28 TWh of gas for its thermal power plants.