Iberdrola ranks as the world’s second largest electricity company by stock market value

Iberdrola, with a stock market value of more than 70,000 million euros, has become the second largest electricity company in the world this week, only behind the American NextEra, which with 136,651 million euros is the world leader, according to the closing of the stock markets on Friday.

The electricity company closed Friday with a capitalisation of 70.201 billion euros, surpassing the also American Duke Energy (69.963 billion), with which it competes very closely, and China Yangtze Power (67.784 billion).

However, Iberdrola already led the ranking of companies with the highest capitalisation in Europe, ahead of Italy’s Enel, Endesa’s parent company, and France’s state-controlled EdF, which ended yesterday with capitalisations of 53.212 billion and 46.108 billion, respectively.

This rise on the podium of the electricity company chaired by Ignacio Sánchez Galán comes in a week in which the main Spanish energy companies have presented results, and its new position coincides with a crucial moment for the energy transition.

Last Wednesday, in the presentation of its annual results, the company announced that it “continues to take firm steps in its commitment to accelerate the energy transition to reduce dependence on fossil fuels, despite this being the sector that has benefited most from the crisis”.

Iberdrola made “historic” investments of 10.73 billion in 2022, 13% more than the same period last year.

This has allowed the company to obtain an overall net result of 4,339 million despite the 19% drop in Iberdrola España’s net profit.