Endesa pide revisar todo el cierre nuclear tras extender Almaraz

In the past month since Spain's elections, Armani, the first executive of Endesa, has opened a political debate on extending Ascó, Vandellós and other nuclear power plants, not just Almaraz. Gianni Vittorio Armani, CEO of Endesa, believes that the decision to extend Almaraz's lifespan until 2030 sets "some of the pillars" for a review of the timeline for shutting down the entire Spanish nuclear park.

Although major electricity companies owning nuclear reactors, primarily Endesa and Iberdrola, had been advocating for the extension of nuclear reactors, it is the first time Armani has publicly voiced this opinion. He made the statement during the presentation of the group's results. Armani noted that, despite the decision made in August regarding Almaraz only changing the extension of the lifespan by a few years, it does "establish some key pillars for a future evaluation."

He pointed out that, in the current context, the decision to extend Almaraz values nuclear capacity as "strategically necessary" and that it is "less exposed to market volatility," although he also highlighted the "significant burden" imposed by a technology like nuclear. Thus, the executive of the electric company clearly prepared the ground for a review of all nuclear power plants in Spain.

Armani also referred to the "significant growth" in the costs of auxiliary services, driven largely by the so-called reinforced operation when the power system shut down on April 28, 2025, with figures exceeding 4,000 million euros by the end of September. He estimated that these costs will rise to between 5,500 and 6,000 million euros by the end of the year.

Endesa, the second-largest electric company in Spain by clients, has achieved a net profit of 1,962 million between January and September, a 15% increase compared to the same period in 2025. The group confirms its forecast to surpass 2,400 million in net ordinary profit in 2026, even amidst more demanding market conditions in the fourth quarter.

The gross operating income (ebitda) increases by 8%, reaching 4,577 million. The growth "comes accompanied by greater quality and stability of results," their officials say. Regulated businesses, mainly distribution and generation outside the peninsula, already contribute nearly 50% of the ebitda, compared to about 40% the previous year.

This increased weight improves "the visibility and predictability of the company's results." Endesa has accelerated its investment efforts to capture opportunities in electrification: gross investments grew by 19%, reaching 1,622 million euros, with distribution networks at the forefront, with a 42% increase year-over-year. This increase demonstrates the company's bet on future growth, with networks as a priority and the aim of facilitating new connections and making it possible for new electrical demand to manifest.