The profit before interest, taxes, depreciation, and amortization (EBITDA) was 4.224 billion euros, a 9% increase compared to the first three quarters of 2024, during which energy companies in Spain paid an extraordinary tax that was not applied in 2025.
The extraordinary tax on energy companies was in force in 2023 and 2024, justified by the Spanish government due to extraordinary gains in the sector linked to rising inflation.
In a statement released today with results through September, Endesa, which operates in Portugal, referred to the blackout at the end of April on the Iberian Peninsula, emphasizing that “considering the lessons learned” from the incident and the “system dominated by renewable energies,” it is “critical to reconsider the planned closure of the nuclear park” in Spain, specifically the Almaraz plant.
“This plant proved essential to enhancing supply security in a geographic area with a significant presence of renewables,” Endesa stated, referring to Almaraz, a nuclear plant located approximately 100 kilometers from the Portuguese border.
Cited in the same statement, Endesa’s CEO, José Bogas, stated that “the Spanish electricity system is safe, but its operation needs updating following the structural changes due to the dominant presence of renewable technologies.”
“In this new scenario, it is crucial to reconsider the planned closure of the nuclear plants, starting with Almaraz,” José Bogas added.
The companies owning the Spanish nuclear plant of Almaraz formally requested the Spanish Government last week to postpone the unit’s closure.
Iberdrola owns 53% of the plant, Endesa 36%, and Naturgy 11.3%.
The closure of Almaraz’s first reactor is scheduled for 2027 and the second for 2028.
The companies owning the five nuclear plants in Spain agreed with the Spanish Government in 2019 on a timeline for closing all units by 2035, with Almaraz being the first affected.
In recent months, especially after the blackout at the end of April on the Iberian Peninsula, there has been an expectation in Spain of a potential change in this timeline, with the Spanish Government showing willingness to extend the operation of nuclear plants beyond the agreed timeline, provided there are no increased costs for consumers, among other conditions.
The companies owning the plants have requested new fiscal conditions for nuclear energy.
Endesa achieved profits of 1.888 billion euros last year, a 154% increase compared to 2023.
The company is the largest electricity provider in Spain and the second-largest gas distributor in the country.
In Portugal, Endesa produces and distributes electricity and won the tender for the conversion of the Pego plant (Abrantes) with an investment project of 600 million euros.
Endesa also has solar energy generation projects in Portugal.
