MADRID, July 29 (Reuters) - Spanish power utility Endesa (ELE.MC) , opens new tab posted on Tuesday a 30% increase in first-half net profit and warned that the proposed remuneration framework for power grids investments in Spain doesn't offer the right incentives.

The company, owned by Italian energy giant Enel (ENEI.MI) , opens new tab, booked a net profit of 1.04 billion euros ($1.20 billion)in the period. This compares with 800 million euros a year earlier, when results included a windfall tax on energy companies.

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The company criticised a proposal by Spain's competition and energy watchdog CNMC to update the remuneration framework for investments in grids in coming year, including raising the guaranteed return on investments in power grids to 6.46%.

"This proposal seriously jeopardizes the level of investment Spain needs to achieve its decarbonisation, increase electricity demand and grid investment goals" included in the country's climate and energy plan, Chief Executive Jose Bogas said.

($1 = 0.8632 euros)

https://www.reuters.com/sustainability/climate-energy/endesa-blasts-grid-remuneration-proposal-1h-profit-rises-30-2025-07-29/