Glossary

N

  • National Markets and Competition Commission (Comisión Nacional de los Mercados y la Competencia) (CNMC)
    Regulatory agency created by Law 3/2013 of 4 June, which brings together the former National Competition Commission (Comisión Nacional de la Competencia) and the majority of the supervisory agencies within the industry (i.e. the National Energy Commission (Comisión Nacional de la Energía), the Telecommunications Market Commission (Comisión del Mercado de las Telecomunicaciones), the Railway Regulation Committee (Comité de Regulación Ferroviaria), the Airport Economic Regulation Commission (Comisión de Regulación Económica Aeroportuaria), and the National Industry Commission (Comisión Nacional del Sector).
    Spanish: Comisión Nacional de los Mercados y de la Competencia (CNMC)
  • National Securities Market Commission (Comisión Nacional del Mercado de Valores) (CNMV)
    Government agency created in 1988 within the Ministry of Economy, charged with supervising and inspecting securities markets and the activities of the individuals and legal entities that come into contact with each other while dealing on such markets. The law assigns to the CNMV. the duty of ensuring transparency on the markets, the proper formation of prices, and the protection of investors.
    Spanish: Comisión Nacional del Mercado de Valores (CNMV)
  • Negotiable securities
    Financial instruments vesting the holder thereof with certain rights and a typical feature of which is that they can be transferred on the market. They are generally grouped into issues. Equities or variable-income negotiable securities are shares of stock, while fixed-income negotiable securities include debentures, bonds, and notes, among others. See "Share", "Note", "Debenture", and "Bond".
    Spanish: Valores negociables
  • Net earnings
    Profit after tax.
    Spanish: Beneficio neto
  • Nitrogen oxide (Nox)
    Nitrogen oxides are composed of nitrogen and oxygen, two elements that do not usually react with each other, but which may do so during high-temperature combustion, such as in a car engine. Such gases include nitric oxide (NO) and nitrogen dioxide (NO2), which contribute towards air pollution, and nitrous oxide (N2O), which is one of the main greenhouse gases; although its warming effect is not very high, its stays in the atmosphere for a long time so its impact is 298 times greater than CO2.
    Spanish: Óxido de nitrógeno (Nox)
  • Nominal value of a share
    Result of dividing the share capital of IBERDROLA, S.A. by the number of shares.
    Spanish: Valor nominal de la acción
  • Note
    Fixed-income security issued at a discount for a time period that is normally less than 760 days.
    Spanish: Pagaré
  • Notes to the financial statements
    Section of the annual accounts in which the information contained in the balance sheet and in the profit and loss account is discussed and further developed. Among other matters, information is provided regarding distribution of profits, rules for the appraisal of assets, economic and financial activities and objectives pursued by the Company, plans to be developed, and accounting standards followed for presenting the other accounting documents.
    Spanish: Memoria
  • Nuclear energy
    That freed as a result of a nuclear reaction. It can be obtained by the process of nuclear fission (division of heavy atomic nuclei) or nuclear fusion (union of very light atomic nuclei).
    Spanish: Energía nuclear
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