Glossary

R

  • RECS Certification
    The RECS is the Renewable Energy Certificate System. It specifies that a certain amount of electricity has been produced by means of renewable energy at a specific plant and at a specific time.
    Spanish: Certificación RECS
  • ROA
    Return On Assets, an indicator of how profitable a company is relative to its assets. It is the net profit divided by total assets of the company at book value.
    Spanish: ROA
  • ROE
    Return On Equity, an indicator of the profitability of a company relative to its share value. It is calculated by dividing net profit by the value of the Own Resources (capital and reserves) of the entity.
    Spanish: ROE
  • Rating agency
    Entity that issues reports and ratings regarding the ability of issuers to meet their financial obligations in the short and long term.
    Spanish: Agencia de calificación crediticia
  • Reactive energy
    The extra non-useful energy demand that some electrical equipment needs to operate. This extra energy has to be reduced to the minimum, given also that it can subtract from the output of the electrical installation. To neutralize this reactive energy, capacitor banks, which IBERDROLA includes in its offer of energy efficiency solutions, are used.
    Spanish: Energía reactiva
  • Reduction in share capital
    Resolution adopted by the shareholders at the General Shareholders' Meeting that entails a reduction in the nominal value of the shares, the redemption of shares, or the formation of a pool in order to exchange them, and the purpose of which may be to return contributions, cancel capital calls, create or increase reserves, re-establish equilibrium between the capital and the assets of the Company diminished due to losses, or several of such purposes simultaneously.
    Spanish: Reducción de capital
  • Regasification
    Process by which liquefied natural gas is converted into natural gas. In Spain, IBERDROLA has shares in the Bahía Bizkaia Gas (BBG) and SAGGAS regasification plants, in Bilbao and Sagunto, respectively.
    Spanish: Regasificación
  • Registered office
    Plaza Euskadi número 5, 48009 Bilbao, Bizkaia (Biscay).
    Spanish: Domicilio social
  • Regulated activities
    Activities carried out by energy and gas companies that are subject to regulation, such as the distribution and transmission of electricity, regasification, and the basic storage, transportation, and distribution of natural gas in Spain. See "Code for the Separation of Activities of the Companies of the Iberdrola Group Carrying Out Regulated Activities in Spain".
    Spanish: Actividades reguladas
  • Regulated company
    A company carrying out regulated activities. See "Regulated activities".
    Spanish: Sociedad regulada
  • Regulations for the Electronic Shareholders' Forum
    Set of provisions governing how the Company enables and makes the forum available, and the guarantees, terms, and conditions for access thereto and use thereof by the Company's shareholders and by any voluntary associations that may be formed pursuant to applicable law.
    Spanish: Reglamento del Foro Electrónico de Accionistas
  • Regulations for the General Shareholders' Meeting
    Set of provisions designed to further develop, pursuant to the By-Laws and applicable regulations, the basic rules governing the call to, preparation, and holding of the General Shareholders' Meeting and to facilitate the effective participation of the shareholders at the General Meeting, in order to contribute to a transparent and informed expression of the corporate will, with special focus on the exercise of the political rights to which the shareholders are entitled for such purpose. See "General Shareholders' Meeting".
    Spanish: Reglamento de la Junta General de Accionistas
  • Regulations of the Appointments and Remuneration Committee
    Set of provisions designed to establish the guidelines for action and rules of internal operation of the Appointments and Remuneration Committee, without prejudice to the powers and duties of the committees or equivalent bodies that may exist at other companies of the Group. See "Appointments and Remuneration Committee".
    Spanish: Reglamento de la Comisión de Nombramientos y Retribuciones
  • Regulations of the Audit and Risk Supervision Committee
    Set of provisions designed to establish the guidelines for action and rules of internal operation of the Audit and Risk Supervision Committee, without prejudice to the powers and duties of the committees or equivalent bodies that may exist at other companies of the Group. See "Audit and Risk Supervision Committee".
    Spanish: Reglamento de la Comisión de Auditoría y Supervisión del Riesgo
  • Regulations of the Board of Directors
    Set of provisions establishing the guidelines that are to govern all action taken by the Board of Directors of the Company, the basic rules for the organisation and operation thereof and the rules of conduct to be observed by its members, in order to achieve the greatest degree of transparency, effectiveness, dynamism, supervision, and control in the performance of its management and supervision duties and representation of the corporate interest. See "Board of Directors".
    Spanish: Reglamento del Consejo de Administración
  • Regulations of the Compliance Unit
    Set of provisions intended to define the guidelines for action and the internal rules of the Compliance Unit of IBERDROLA, S.A., integrated within the Company's Corporate Governance System. See "Compliance Unit".
    Spanish: Reglamento de la Unidad de Cumplimiento
  • Regulations of the Corporate Social Responsibility Committee
    Set of provisions designed to establish the guidelines for action and rules of internal operation of the Corporate Social Responsibility Committee, without prejudice to the powers and duties of the committees or equivalent bodies that may exist at other companies of the Group. See "Corporate Social Responsibility Committee".
    Spanish: Reglamento de la Comisión de Responsabilidad Social Corporativa
  • Related-party transactions
    Any transfer of resources, services, or obligations between the Company and the directors, significant shareholders, senior officers, or their respective related parties, regardless of whether or not there is consideration. As a listed company, IBERDROLA, S.A. must quantify these transactions in the semi-annual public information it sends to the CNMV and in its Annual Corporate Governance Report to the extent provided by applicable law.
    Spanish: Operaciones vinculadas
  • Repayment and redemption of debentures
    Recovery by the investor of the invested capital, whether due to maturity of the issue or to early repayment in accordance with the terms of the issuance.
    Spanish: Reembolso y rescate de obligaciones
  • Representation by physical securities and by book entries
    Shares may be represented by physical securities (in registered or bearer form) or by book entries. The shares of listed companies like IBERDROLA, S.A. must necessarily be represented in book-entry form.
    Spanish: Representación mediante títulos físicos
  • Retail investor
    Small investor, defined by exclusion under European regulations as an investor that cannot be regarded as a professional investor, due to the smaller volume of funds invested or to lesser experience in and knowledge of the securities markets. Regulations thus afford higher levels of protection thereto than those contemplated for professional investors.
    Spanish: Inversor minorista
  • Right to attend
    All holders of voting shares may attend the General Shareholders' Meeting and take part in the deliberations thereof. In order to exercise this right, shareholders must cause the shares to be registered in their name in the corresponding book-entry register at least five days prior to the day on which the General Shareholders' Meeting is to be held. This circumstance must be evidenced by means of the appropriate attendance card, proxy, validation certificate, or in any other manner permitted by applicable law.
    Spanish: Derecho de asistencia
  • Right to proxy representation
    All shareholders having the right to attend may be represented at the General Shareholders' Meeting by another person acting as proxy, even though such person is not a shareholder, by complying with the requirements and formalities established by law and the Company's Corporate Governance System.
    Spanish: Derecho de representación
  • Right to receive information
    Shareholders may request in writing the information or clarifications that they deem are required or ask the written questions that they deem relevant regarding the matters included in the agenda. In addition, upon the same prior notice and in the same manner, the shareholders may request information or clarifications or ask written questions regarding information accessible to the public that has been provided by the Company to the CNMV since the holding of the last General Shareholders' Meeting.
    Spanish: Derecho de información
  • Right to vote
    Right to participate in the adoption of resolutions at the General Shareholders' Meeting. Each share gives the right to one vote. However, the limitations established in articles 29 and 30 of the By-Laws and in the Company's Corporate Governance System for the protection of minority shareholders must be taken into account for purposes of the exercise of this right.
    Spanish: Derecho de voto
  • Risk Policies
    Sets of rules establishing the basic principles and general framework for the control and management of all kinds of risks facing IBERDROLA, S.A. and its Group, which include the General Risk Control and Management Policy, the Corporate Risk Policies, and the Risk Policies for the Group Businesses. See "Risks".
    Spanish: Políticas de riesgos
  • Risks
    Any threat that an event, act, or omission may prevent an entity from achieving its objectives and successfully implementing its strategies.
    Spanish: Riesgos
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