Iberdrola buys Contigo Energía's power arm, adding 100,000 Spanish customers

What's the deal? Iberdrola has agreed to acquire the electricity retail business of Contigo EnergíaDealroom has a profile for this one. Try Dealroom → from Spain's GesternovaDealroom has a profile for this one. Try Dealroom → group, adding a portfolio of 100,000 power customers in its home market. The deal value was not disclosed and remains subject to customary closing conditions.

Why it matters: This marks Iberdrola's first purchase of a retail supplier in Spain. The company views commercial supply as a key lever to accelerate the electrification of homes and businesses.

What's the endgame? Iberdrola plans to keep Contigo Energía operating independently within its group, mirroring its digital-only supplier NibaDealroom has a profile for this one. Try Dealroom →, launched in June 2025. The move lets it target different types of consumers with distinct commercial offers built around clean, competitive energy.

The backstory: Gesternova launched in 2005 with a focus on renewable electricity, then created Contigo Energía in 2017 as an energy-services subsidiary. The two brands merged commercially under the Contigo name in October 2024; the Iberdrola deal covers only the electricity retail business and its customer book.

The signal: Spain's power retail market is consolidating. Iberdrola already leads with about 9.8 million supply points, ahead of EndesaDealroom has a profile for this one. Try Dealroom → (just over 9 million) and NaturgyDealroom has a profile for this one. Try Dealroom → (nearly 4.4 million) — but challengers such as RepsolDealroom has a profile for this one. Try Dealroom →, now at 3.3 million customers, have been chipping away at the big three. Endesa itself bought MasOrangeDealroom has a profile for this one. Try Dealroom →'s electricity supplier last year, adding 350,000 clients.

Read more: levante-emv.com

Image credit: Julikeishon