Glossary

E

  • EBIT
    Earnings before interest and taxes. Net operating profit, after depreciation, amortisation and provisions.
    Spanish: EBIT
  • EBITDA
    Earnings before interest, taxes, depreciation and amortisation. Gross operating profit before interest, taxes, provisions, amortisation and depreciation.
    Spanish: EBITDA
  • Early action
    Compensatory measure provided by the European Commission (COM 2003, 830 final) in the planning of greenhouse gas emissions. "The accommodation of early action (in a national plan for the assignment of emission rights) is considered as desirable from a fairness point of view. Those installations that have already reduced greenhouse gas emissions in the absence of or beyond legal mandates should not be disadvantaged vis-à-vis other installations that have not undertaken such efforts. The application of this criterion necessarily implies fewer allowances available for installations that have not undertaken early action." See "Atmosphere", "Global warming", "CO2 equivalent", "Emission Trading Scheme (ETS)" and "Greenhouse Gases (GHGs)".
    Spanish: Acción temprana
  • Earnings per share
    Result of dividing net attributable profit by the number of outstanding shares.
    Spanish: Beneficio por acción
  • Electrical grid
    Transmission of electric energy from the electric energy production centres to the final consumption points. They are divided into transmission grids and distribution grids, based on the laws of each country.

    Spanish: Red eléctrica
  • Electronic shareholders' forum
    Electronic tool required by the Companies Act for listed companies in Spain in order to facilitate communication among shareholders and shareholder associations through its corporate website on occasion of the call to and until the holding of each general shareholders' meeting.

    Spanish: Foro Electrónico de Accionistas
  • Emission Trading Scheme (ETS)
    A market instrument creating economic incentives and disincentives in the pursuit of environmental benefits. In 2005 the European Union launched a CO2 market operating in 31 countries (the 28 countries of the EU plus Iceland, Liechtenstein and Norway) and limiting the emissions of more than 11,000 energy-intensive plants (electric power plants and industrial plants) and airlines operating among these countries, covering approximately 45% of the European Union?s greenhouse gas emissions.

    In Spain, emission rights trading is regulated by Law 13/2010 of 5 July, which amends Law 1/2005 of 9 March regulating the greenhouse gas emission rights trading system in order to improve and expand the general rules for trading in emission rights and to include aviation therein.

    Spanish: Comercio de derechos de emisión
  • Energy efficiency
    Efficient use of energy such that the same or less is used to obtain the same results. Applies to both production processes and domestic consumption. The concept has given rise to an energy label that expresses efficiency on a scale of seven classes represented with letters and colours (from a green A for the most efficient equipment to a red G for the least efficient equipment).

    The Iberdrola group seeks optimisation in the use of energy throughout its energy supply chain and acts to optimise the use of energy in production, transmission and distribution, as well as in the final use.

    Spanish: Eficiencia energética
  • Environment
    Aggregate of physical, chemical, biological and social components capable of causing direct or indirect effects, in the short or long term, on living beings and human activities.

    In general terms, the concept of environment encompasses the surrounding which affects and determines the circumstances of life of people or society as a whole. It includes the set of natural, social and cultural values that exist at a specific place and time and which influence the lives of people and future generations. It not only involves the space in which life occurs but also encompasses living beings, objects, water, soil, air and the relationships between them, as well as such intangible elements as culture.

    Spanish: Medioambiente
  • Excellence in Sustainability Club
    A business association, of which IBERDROLA is a founding member, comprising a group of large companies committed to sustainable growth from the economic, social and environmental point of view. Its aim is to serve as a forum of dialogue with stakeholders and as a sustainable development benchmarking platform and to transmit good practices to the Spanish corporate community.

    Spanish: Club de Excelencia en Sostenibilidad
  • Executive Director
    Director who performs management duties within the company or within its group, whatever the legal relationship the director maintains therewith.
    Spanish: Consejero ejecutivo
  • Extraordinary General Meeting
    Meeting of the shareholders that is not considered to be an annual general meeting. An extraordinary general meeting can be held at any time, when the circumstances so advise and after it has been called as provided by the regulations.
    Spanish: Junta general extraordinaria
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