Repsol has reached one million electricity and gas customers in Spain in record time, thanks to its attractive multi-energy offering and cutting-edge digital solutions. In just over thirteen months, Repsol Electricidad y Gas, the company’s subsidiary dedicated to generation and marketing of electricity and gas, has managed to increase its customer portfolio by 33%, compared to the 750,000 customers it had at the time of the acquisition of Viesgo assets on 2 November 2018.
The provinces where Repsol Electricidad y Gas have captured the most customers are Madrid, Barcelona, Valencia, Seville, Málaga, Murcia, Vizcaya, A Coruña, Alicante, and Tarragona. They account for half of the growth obtained during this period. The highest number of customers signing up during this time are found in Madrid and Barcelona, 50,000 and 22,000, respectively. Repsol Electricidad y Gas customers are distributed throughout the whole of Spain.
The figure of one million customers represents a milestone that has been achieved thanks to exclusive customer benefits, including discounts at the network of Repsol service stations that have played a prominent role as information channel. Repsol has taken advantage of the recognition and strength of its brand, the quality of its services, and the capillarity of its different sales channels, mainly its 3,400 services stations in Spain, to disseminate its offering.
To this it has added important partnerships, such as the one signed in March with El Corte Inglés to the effect that customers of the distribution chain can contract electricity and gas services in its establishments. There are currently 47 centres offering these services.
In 2019, Repsol Electricidad y Gas also signed agreements with large scale customers to supply electricity, gas, and energy services over the coming years.
Repsol's strategy through 2020 contemplates investments of 2.5 billion euros in the low-emissions business, with the objective of reaching 2.5 million retail electricity and gas customers in Spain by 2025, with a market share above 5%.
After the presentation of its updated strategy for 2020, on 2 November 2018, Repsol took a significant first step with the acquisition of the non-regulated low emission electricity generation businesses of Viesgo and its marketer. This has allowed Repsol to become a leading player in the Spanish electricity market and to reinforce its standing as a multi-energy supplier, through generation of electricity from all types of energy sources, except coal and nuclear, and with a presence in 70% of the primary energy matrix.
Thus, Repsol Electricidad y Gas joined the sector as an operator with a long-term industrial vision and the intention of investing and creating new opportunities, thereby promoting competition in the sector in Spain to the benefit of the consumers.
In June 2019, the subsidiary opened its new facilities in Santander, at the Scientific and Technology Park (Parque Científico y Tecnológico [PCTCAN]). In September, it did the same in Madrid by moving to offices, with a capacity for nearly 500 employees, near Campus Repsol, to be able to enact the growth plan for the coming years.
In just over thirteen months, Repsol has consolidated itself as a leading player in the generation of low carbon emission electricity on the Iberian Peninsula, with a total installed capacity of 2,952 MW and plans underway for renewables totalling 1,083 MW.
There are five renewables projects, in total: the Delta wind farm, located between the provinces of Zaragoza and Teruel. Work has already commenced and the 89 turbines and 335 MW are expected to be operational towards the end of 2020; the PI wind farm, located between Palencia and Valladolid with a total installed capacity of 255 MW; a 204 MW photovoltaic park in Cádiz (Sigma); the 264 MW photovoltaic Valdesolar project (Badajoz); and the Windfloat offshore floating wind farm off the north coast of Portugal, which will have an installed capacity of 25 MW and has the participation of EDP, Engie, and Principal Power.
Repsol’s Board of Directors recently approved new investments to incorporate and build new solar and wind projects for a total of 1,600 MW. With these projects, the low-carbon generation portfolio rises to 5,600 MW.
The growth of its electricity and gas business strengthens Repsol’s position as a multi-energy supplier, offering different cutting-edge solutions to respond to all the energy needs of its customers. This exclusive offering allows customers to enjoy benefits related to the energy supply for homes, for mobility, and for companies.
Repsol is constantly innovating to meet client needs, focusing on solutions such as self-generation and self–consumption of renewable energy. Repsol recently launched Solify, a comprehensive self-generation solution for photovoltaic energy aimed at single-family homes and small businesses. It offers 100% renewable energy, savings on the electricity bill, and efficient digital management of consumption. The company will gradually implement this initiative in its service stations and other facilities.
Repsol recently analysed the role of the company in the fight against climate change and deepened its commitment to leading the energy transition, in accordance with the objectives of the Paris Agreement and the Sustainable Development Goals of the United Nations.
Accordingly, Repsol will orient its strategy towards being a net zero emissions company by 2050. Repsol is the first company in its sector to set this ambitious goal, which aims to limit global warming to 2 degrees centigrade compared to pre-industrial levels.
Repsol’s determination and strategic clarity in its drive towards decarbonisation are reflected in the momentum it is giving to projects related to the energy transition. In this sense, the company has increased its target for low-carbon electricity generation capacity by 3,000 MW, to 7,500 MW by 2025. Additionally, it is starting to expand into other markets to become a leading international player in renewable energies.
In September of this year, Repsol created the subsidiary Repsol Renovables, a specialized division under Repsol Electricidad y Gas, with extensive experience in the sector. The division is growing significantly, demonstrating the firm commitment of Repsol to this business area.