• Tariff deficit
    The difference between the cost of producing electricity and the price the consumer pays. In Spain, the sale of electricity is regulated by official tariffs that do not reflect the real cost of supply; the cost of raw materials such as natural gas, oil and coal have increased spectacularly since 2004, to which is added the increase in environmental and production costs following the entry into force of CO2 emissions allowances. The tariffs, especially domestic, however, have not taken these increases into account. In July 2008, the Ministry of Industry calculated that, with the price levels in force, the electricity sector's accumulated debt would reach 26.9 billion euros in 2012 and account for 80% of its revenues.
    Spanish: Déficit tarifario
  • Territorial committees
    External advisory committees for purposes of better information and knowledge by the Company of the unique characteristics of the various territories in which the Company and its Group do business.
    Spanish: Comités territoriales
  • Thermal energy
    Obtained from fossil fuels, usually coal.
    Spanish: Energía térmica
  • Thermal solar energy
    Based upon the capture of solar radiation and its use as a source of heat. It is especially utilized for domestic hot water systems, interior heating and drying. IBERDROLA, through its subsidiary IBERDROLA RENOVABLES, has a portfolio of 13 thermal solar projects which amount to 600 MW of power.
    Spanish: Energía solar térmica
  • Total shareholder return (TSR)
    Annual change in shareholder value in percentage terms. Includes the change in listing price and remuneration received.
    Spanish: Rentabilidad para los accionistas
  • Transfer of shares
    Transaction whereby a change in ownership of the shares is effected.
    Spanish: Transmisión de acciones
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