Skip to 0 minutes and 11 seconds My name is Robert Navarro, I’m the managing director for Innogy in Spain. Innogy is a German leading energy company working in three business segments, that are grid and infrastructures, renewables, and retail. Innogy was formed as a result of the restructuration of the RW group. Innogy addresses the requirements of an energy world which is becoming decentralized, decarbonized, and digital, and Innogy is also the blueprint for the future energy company. Innogy started its operations in April 2016 the decision had been taken by the south supervisory board by the end of 2015, and we made an IPO, a very successful IPO in October on the same year 2016.
Skip to 1 minute and 4 seconds The decision to create Innogy was taken unanimously by the supervisory board of RWE AG in December 2015. Concerning the employees, no opposition or rejection was disclosed by any of the employees affected by all this transition. It’s important also to mention that two thirds of the headcount from RWE was, or has been transferred to the new company Innogy. Talking about some figures, we can speak about roughly 44€ billions of turnover in 2016, around 40,000 employees, 16 million customers in electricity, 7 million customers in gas, and a capacity of generation on removal of 3.70 GW.
Skip to 2 minutes and 4 seconds RWE is running Innogy from a legal and economy point of view in a fully independent way. This is a basic principle that was part of the agreement between Innogy and RWE when the new company was created. Obviously a lot of things must change in a company who wants to become much more flexible much more quick in their decisions and much more modern. The good thing is that these changes started in RWE even before Innogy was created.
Skip to 2 minutes and 39 seconds And for this reason, just as an example, it was possible for us to run a very big, in fact, a huge IPO which was the largest in Germany since the year 2000 and the second largest in the world in 2016 in just 10 months.
Skip to 3 minutes and 5 seconds The main challenges in the energy and electricity industry are related to the mega trends that we have identified, which are the decentralization, decarbonisation and digitalisation. And all these trends are producing said challenges, and we have to face these challenges, and we feel well prepared to face them. One example in the concrete renewal sector are the capacity options that are becoming the preferred way chosen by the countries to set and install new renewal capacity. We have to be efficient. We have to be competitive and we will be prepared to be successful in the situation.
Skip to 3 minutes and 56 seconds Facing and tackling these challenges means, among other things, to design and develop new business models and there are several examples. The electrification of the transportation sector upon which we are working in new business models, and also getting the advantage of a coordinated activity from the infrastructure and grids, renewals and retailing sector. Also the emerging of the figure of the prosumer is something on which new business model has to be created and implemented, and beyond that our innovation hub is working in a new digital business models that can go even beyond the energy market because our vision is even going further.
Skip to 4 minutes and 53 seconds To make it short and clear, in our vision, the future of the energy market is to be decentralized, digital, and decarbonized.
Meet the expert: The challenges of the electric utility industry
Robert Navarro is the Managing Director and CFO at Innogy Spain, a German energy company. In this interview, he will introduce the main challenges of the electric utility industry: decentralization, decarbonization and digitalization.