The fiscal year’s results have exceeded the average annual growth of last the five years: net turnover increased by 17% with
respect to 2011, EBITDA by 21% and the annual results grew 18%, reaching 460 million euros. In addition, the Company has concluded the acquisition process of transmission assets that began ten years ago.

The Spanish electricity system is evolving towards a new model which is more sustainable, based on security of supply, competitiveness, efficiency and respect for the environment. It is a model in which electricity will play an increa - singly important role as an energy vector in taking advantage of renewable energies, increasing energy efficiency and in the fight against climate change. This represents a significant challenge for Red Eléctrica in the search for technical solutions for system operation and in the development of demand-side management strategies that contribute to making the operation of the electricity system more efficient.