Iberdrola is awarded the new electricity contract for the Canal de Isabel II for 160 million

Iberdrola renews as the electricity company of Canal de Isabel II. The electricity company’s marketing company, Iberdrola Clients, has been awarded the electricity supply contract for the Madrid public company for imports of 160.5 million euros. Endesa, Acciona, TotalEnergies and Nexus Energía also participated in the tender.

According to the public procurement portal of the Community of Madrid, the agreement is for 12 months, although the company reserves the right to an extension of another six months. If this is the case, you must notify Iberdrola two months in advance. The consumption used to estimate the base bidding budget is 429 gigawatt hours (GWh) for 698 supply points. According to the specifications, the “high variability” of the Canal’s electricity demand due to changing weather conditions has been taken into account.

The document highlights that the main source of this variability is the Alberche pumping, which with an average annual consumption of about 100 GWh, has reached “historical maximums” of 200 GWh. For its part, the price of electricity that has been used to calculate the base budget of the contract is 245 euros per megawatt hour (MWh). The total unit price rises to 308.99 euros/MWh adding the weights, charges, system adjustment services, other regulated terms, marketer’s margin, special electricity tax (currently at the minimum allowed of 0.5% ) and rates.

Public company facilities in Madrid and Cáceres

The agreement includes the company’s facilities in the Madrid region and Cáceres. The origin of the energy is 100% renewable. Compared to the previous contract, the number of supply points increases by 150, which were at a regulated rate (PVCP) and have been tendered on the free market. The economic impact is 260,346 euros, which represents 0.19% of the total.

The offers ranged between 189.33 euros/MWh from Iberdrola Clients and 189.98 euros MWh from Endesa Energía and Nexus Energía. The contract, concluded through an open procedure, is thus awarded to the offer with the lowest price. The previous contract was also awarded to Iberdrola Clients for 61 million euros. In total, there were 559 supply points for a consumption of about 360.4 GWh. The contract had a duration of one year (from January 1 to December 31, 2022) with the option to extend it for another year. The water management company executed it for the same value, so it is active until the end of this year and the new one will begin in 2024.

In addition, a clause was introduced so that the price of electrical energy is not reviewed, except for possible variations, both positive and negative, that may arise from regulatory provisions approved after the submission of offers. Likewise, the new supply points that are incorporated could not raise the price either.

In this case, economic offers were presented by Naturgy (57.56 euros/MWh), Acciona (57.79 euros/MWh), Iberdrola (57.84 euros/MWh), Nexus Energía (60.45 euros/MWh) and Endesa ( 70.57 euros/MWh). Iberdrola Clients later lowered it in an electronic auction to 54.61 euros/MWh and to guarantee compliance with the obligations arising from the contract, it presented a guarantee from Bankinter worth 2.5 million euros.

The last public contract with similar characteristics that has been awarded is the supply of light for Adif stations and technical installations, valued at 160 million euros. Endesa, with two lots, and Iberdrola, with the third, were winners of the contest. The Portuguese EDP also appeared, but came away empty-handed. However, its value is ten times lower than the energy contract for train traction, which Endesa was awarded for 1.6 billion.

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