Naturgy Could Have Downside From Gas Margins, Thermal-Performance Outlook -- Market Talk

Dow Jones

2025/10/29

0844 GMT - Although Naturgy delivers strong results, there could be some downside in gas margins over the next quarters as well as in thermal performance, RBC Capital Markets analysts say in a note. Spanish energy peer Endesa has guided for a 40% decline in fourth-quarter gas margins compared with the first nine months of 2025, RBC says. Still, this might take longer to decline until part of the role of combined-cycle gas turbine plants is replaced by batteries and solar-photovoltaic assets with grid-forming capabilities in Spain, RBC says. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

October 29, 2025 04:44 ET (08:44 GMT)

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Spanish energy peer Endesa has guided for a 40% decline in fourth-quarter gas margins compared with the first nine months of 2025, RBC says. Still, this might take longer to decline until part of the role of combined-cycle gas turbine plants is replaced by batteries and solar-photovoltaic assets with grid-forming capabilities in Spain, RBC says. (anthony.orunagoriainoff@dowjones.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 29, 2025 04:44 ET (08:44 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4081","symbol_name":"电力公用事业","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2579922723","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2579922723","pubTimestamp":1761727440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2025 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4081":"电力公用事业","ELEZY":"Endesa S.A."},"translate_title":"Naturgy可能会因天然气利润率、热力性能前景而带来负面影响——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ELEZY":0.9},"content_text":"0844 GMT - Although Naturgy delivers strong results, there could be some downside in gas margins over the next quarters as well as in thermal performance, RBC Capital Markets analysts say in a note. Spanish energy peer Endesa has guided for a 40% decline in fourth-quarter gas margins compared with the first nine months of 2025, RBC says. Still, this might take longer to decline until part of the role of combined-cycle gas turbine plants is replaced by batteries and solar-photovoltaic assets with grid-forming capabilities in Spain, RBC says. (anthony.orunagoriainoff@dowjones.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 29, 2025 04:44 ET (08:44 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}