Iberdrola 3Q Electricity Production Dragged Down by Spain

By Marc Bisbal AriasFeaturesDow Jones Newswires

Iberdrola SA (IBE.MC) said late Tuesday that its third-quarter net electricity production fell slightly compared with the year-earlier period, hurt by a double-digit decline in Spain.

Total net electricity production was 31,536 gigawatt hours, down 3.3% year-on-year. In Spain, its largest market in terms of net production, the decrease was 22%.

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For the period from January to September, installed capacity was 48,062 megawatts, a 3.8% increase compared with the year-earlier period.

The company also said that its third-quarter total electricity distribution fell 1.4% to 56,730 gigawatt hours, with the U.S. experiencing the largest decline, at 6.7%.

Total gas distribution decreased 6.3%.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

October 25, 2017 03:37 ET (07:37 GMT)