Compañía Sevillana de Electricidad

Sevillana de Electricidad (CSE)
Joint stock company
Industry Electricity generation
Fate Merged into Endesa
Successor Sevillana-Endesa
Founded 23 July 1894
Defunct 1996–2002
Headquarters Seville, Spain
Area served
 Andalusia and Extremadura
Key people
 Director General Francisco Arteaga (2009)[1]
Revenue 287,470 million pesetas (1995)[2]
Number of employees
 > 1000
Parent Grupo Endesa
Website http://www.sevillanelec.es/

The Compañía Sevillana de Electricidad, S. A. (known as CSE, Sevillana, or Sevillana de Electricidad) was a Spanish electricity generation company, founded in Seville in 1894. In the course of the 20th century it absorbed various other companies and came to be practically the sole generator of power in Andalusia. Beginning in 1996, it underwent the first of several stages in the process of being merged into the multinational corporation Endesa, becoming known as Sevillana-Endesa.[3] That process was completed in 2002.

History

Foundation

Spain first began to regulate the generation of electricity toward the end of the 19th century. On 23 July 1894 the Compañía Sevillana de Electricidad, Sociedad Anónima was founded, with capital coming from the then-new German electrical generation equipment company Allgemeine Elektrizitäts-Gesellschaft (AEG) and from Deutsche Bank.[4] At that time its operations were limited to the province of Seville. In 1914 the company became the sole generator of power in that province, with a capacity of 15 million KW/h.[3]

Expansion

At that point, CSE began to grow into neighboring provinces, beginning with the Campo de Gibraltar in the province of Cádiz. In 1926, CSE acquired the Empresa Rondeña de Electricidad (based in Ronda), giving CSE the dominant position in generating electricity in the province of Malaga, including hydroelectric generation on the river Guadalevín, in the Tajo de Ronda.[3] In 1936 it was the leading electrical generation company in Andalusia, with a capacity of 130 million KW/h.[4]

After the interruption of the Spanish Civil War, the company remained in Spanish hands, and a decade later began its most rapid period of expansion, beginning with a merger with Mengemor in 1951.[5] In 1964 CSE absorbed the Sociedad Hidroeléctrica de Peñarroya, and in 1967 Hidroeléctrica del Chorro, its principal competitor in the Andalusian market and owner of the hydroelectric works at El Chorro on the river Guadalhorce in the province of Málaga. The process of expansion culminated in 1968 with the acquisition of the Centrales Térmicas del Litoral, coastal thermal power stations built by the state-owned Instituto Nacional de Industria (INI). This gave CSE a monopoly of electrical generation in Andalusia and in the Extremaduran province of Badajoz.[4]

When the 1973 oil crisis threatened the supply of cheap fuel oil, CSE entered into the field of nuclear power generation. Together with other companies it participated in the creation of the Almaraz Nuclear Power Plant (started in 1973) and the Valdecaballeros Nuclear Power Plant (started in 1975).[4] The Almaraz plant began generating power in 1981.[6] The Valdecaballeros plant never went online.[7]

The increasingly important CSE became one of the stocks on the IBEX 35 index of Spanish stocks.

Endesa

Deregulation of the Spanish market for electricity as part of entry into the European Union, brought in Endesa as an investor, purchasing 33.5 percent of the company in 1991. In 1996 Grupo Endesa owned 75 percent of the company's shares, giving them absolute control of CSE.[8]

In 1999, CSE stock ceased to trade on the exchange, and on 15 February 2002 the company ceased to exist as a separate corporation, integrated into Grupo Endesa, Spain's largest generator of electricity, as Sevillana-Endesa.[9]

Notes

  1. ↑ El Correo de Andalucía: Arteaga, nuevo director de Endesa en Andalucía.
  2. ↑ PR Newswire: SEVILLANA DE ELECTRICIDAD'S 1995 NET INCREASES 8.5 PERCENT.
  3. 1 2 3 Ayuntamiento de Málaga: IMPLANTACIÓN Y DESARROLLO DE LAS INFRAESTRUCTURAS DE LOS SERVICIOS URBANOS ESENCIALES EN LA CIUDAD DE MÁLAGA.
  4. 1 2 3 4 La Compañía Sevillana de Electricidad. Historia de una empresa. Revista de estudios regionales, ISSN 0213-7585, Nº. 39, 1994, p. 179-192.
  5. ↑ Adurcal: Empresas andaluzas del sector energético.
  6. ↑ Central nuclear de ALMARAZ: Proyecto, Centrales nucleares de Almaraz y Trillo, official site. Accessed online 2010-01-26.
  7. ↑ Nuclear News Country Review: SPAIN (1994) at the INSC website (Argonne National Laboratory). Accessed online 2010-01-26.
  8. ↑ Deutsche Bank: Cotización de Endesa.
  9. ↑ COMPAÑÍA SEVILLANA DE ELECTRICIDAD, SOCIEDAD ANÓNIMA Unipersonal…etc.…Anuncio de escisión total BOE, 2002-02-21, p. 4861. Article begins on p. 4860.

External links

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