3 European Coal Stocks to Buy As Russia Squeezes Gas Supply

1. Endesa, S.A. (BMAD:ELE)

With a €19.94 billion market cap, Endesa, S.A. (BMAD:ELE) is the largest electric utility company in Spain, with operations in multiple countries across Europe. It provides electricity to 10 million customers mainly in Spain and Portugal, and on a relatively smaller scale to customers in Germany, France, Belgium and the Netherlands. By end of 2020, Endesa’s energy production from renewable sources such as wind, solar and hydroelectric had reached 7,825 MW. The company has promised to phase out all its coal-based power plants by 2027, and has dismantled and shut down several of these in recent years. Endesa has also established a Futur-e Plan, which seeks to address issues caused by plant shut-downs to the local community, and help workers find employment again through green energy initiatives within the same area.

The energy crunch faced by Europe has upended its green energy ambitions, at least in the near term. In November 2021 amid excessive demand for electricity in Spain, Endesa, S.A. (BMAD:ELE) was made to restart a coal pant which had been idle for months and was awaiting a full shut-down. This was the As Pontes coal plant in the northwestern Galicia region, which boasts a 1,400 MW power generation capacity.

For the first quarter of 2022, Endesa, S.A. (BMAD:ELE) disclosed revenue of €7.51 billion, up 60.84% in comparison to the same period over last year. Net income was recorded at €338 million, down 31.16% on a year-over-year basis.

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