Spanish energy utility Gas Natural Fenosa has released its 2016 results, posting a 10.9% fall in revenues, from €26bn in 2015 to €23.2bn in 2016.
In 2016, the group distributed 458 TWh of gas (-3.3% on 2015), including 188 TWh in Europe (+3.9%) to 5.8 million connection points and 270 TWh in Latin America (-7.7%) to 7.8 million connection points, mainly due to a 30% fall in gas sales in Brazil (lower demand from the power sector). Gas Natural Fenosa also distributed 68 TWh of electricity (-0.7%) to 8.2 million connection points worldwide. Power sales remained stable at 34.7 TWh in Europe but declined by 1.5% in Latin America to 33.6 TWh. Gas Natural Fenosa also transmitted 14.5 TWh of electricity in Chile in 2016 (stable on 2015). The group also generated 46.5 TWh in 2016 (-6%), including 28.5 TWh in Spain and 16.4 TWh in Mexico.
In Spain, Gas Natural Fenosa had an installed capacity of 12.7 GW at year-end 2016 (-0.4%), including 7 GW of CCGT, 2 GW of coal, 2 GW of hydropower, 1 GW of wind and 600 MW of nuclear. Power generation in Spain (28.5 TWh) declined by 9.7%, due to a 17.5% contraction in CCGT generation (12 TWh) and in coal-fired generation (-29% to 5.7 TWh) that the 60% rise in hydropower generation (3.9 TWh) could not offset. The group accounted for 17% of total generation in Spain and sold 36.4 TWh (+3.2%), including 31 TWh on the liberalised market and 5.2 TWh on the PVPC/Regulated market.
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