JPMC Utilities Daily: 17 July: Spanish Utilities, NTGY

Research evidence excerpt

JPMC Utilities Daily: 17 July: Spanish Utilities, NTGY

J P M O R G A N Europe Equity Research

17 July 2026

JPMC Utilities Daily

17 July: Spanish Utilities, NTGY

ACSector Headlines EuropeanJavier GarridoUtilities & Clean Energy

(34-91) 516-1557

javier.x.garrido@jpmorgan.com

J.P. Morgan Securities plc

AC• Spanish Utilities: Spain’s nuclear safety council clears Almaraz plant Pavan Mahbubani, CFA

extension (44-20) 7134-3056

pavan.mahbubani@jpmorgan.com

• Naturgy: launches 330 MW solar, 180 MW BESS project in Queensland J.P. Morgan Securities plc

Alejandra Botbol

(44-20) 3493-8711Sector News

alejandra.botbol@jpmorgan.com

Samanvitha Theegela

(91-22) 6157-5846

Spanish Utilities: Spain’s nuclear safety council clears samanvitha.theegela@jpmchase.com

Almaraz plant extension J.P. Morgan India Private Limited

Mukund Verma

Bloomberg reported that Spain’s nuclear safety council said the Almaraz atomic (44-20) 7742-4181

power plant in Extremadura would be safe to operate until the end of the decade, mukund.verma@jpmorgan.com

bolstering Iberdrola’s case to keep the facility open. The regulator’s conclusion J.P. Morgan Securities plc

isn’t binding, but is likely to influence the government’s deliberations on the Specialist Sales contact details:

planned phaseout of nuclear power. Almaraz is currently scheduled to close over

Ian Mitchell - Specialist Sales -

the next two years, but Iberdrola, together with joint-venture partners Endesa European Energy

and Naturgy, has pushed to extend its life, arguing that it’s a reliable source of low- (44-20) 7134-1356

carbon electricity and a major employer in the region. The regulator’s report will ian.e.mitchell@jpmorgan.com

now be sent to the environment ministry, which will have the final say. All of