Electric Companies Begin Trading with Mixed Signs After Blackout

Electric companies began Tuesday's trading session with mixed trends. Redeia, in particular, saw a drop of over 1% in the early hours, still reeling from the blackout that left Spain without power since midday.

A day later, Repsol and Redeia were the most affected energy companies in the Ibex 35, recording declines of 0.65% and 1.09% by 9:20 a.m.

Meanwhile, Iberdrola rose by 0.1%, Enagás by 0.19%, Endesa by 0.54%, and Solaria was the most boosted with a 1.46% increase.

By 7:00 a.m. on Tuesday, 99.95% of the mainland's electricity demand had been restored, with a total production of 25,794 megawatts (MW), according to updated data from Red Eléctrica.

In this context, Iberdrola has already restored normal energy supply to 100% of its customers by 7:00 a.m. on Tuesday, while Endesa has restored 90%, equivalent to 9.54 million of its customers.

At 12:33 p.m. on Monday, 15 gigawatts (GW) suddenly disappeared from the power grid, equivalent to 60% of the energy being consumed at that time, according to a statement by the Prime Minister, Pedro Sánchez, on Monday night, causing a massive blackout that left the Iberian Peninsula without power for much of the day.

In a statement from La Moncloa after the National Security Council meeting, Sánchez could not specify what caused it. However, he emphasized that "all potential causes are being analyzed, without ruling out any hypothesis."

The Ibex 35 began Tuesday's session with a slight increase of 0.11%, bringing the Madrid benchmark to 13,471.1 points at 9:00 a.m., a day after Spain experienced a blackout that left the country without power since midday.

In this context, the country's main index was able to conclude Monday's session, as the shares of listed companies continued to be traded despite the blackout that paralyzed much of Spain and was not resolved until the early hours.

Specifically, the Ibex 35 ended yesterday's trading session at 13,456.10 points, with a rise of 0.75%, bringing it close to its annual highs reached on March 25, near the 13,500 mark, a level not seen since late May 2008.

In this context, the National Securities Market Commission (CNMV) has assured that the market infrastructures continue to operate with the same normality as they did on Monday.