Red Eléctrica de España, S.A., founded in 1985 in application of Law 49/1984 of 26 December, was the first company in the world exclusively dedicated to the transmission of electricity and the operation of electricity systems.
Law 54/1997 regarding the Electricity sector confirmed Red Eléctrica's role as key in the operation of the system and Law 17/2007, that modified this legislation to adapt it to the European Directive 2003/54/CE, confirmed Red Eléctrica as sole transmission agent and operator of the Spanish electricity system.
During 2010, and in accordance with this Law, the acquisition of the transmission assets from the electric utility companies was completed, including those systems of the Balearic Islands and the Canary Islands and it represented the consolidation of the company as the sole transmission agent, converting it into the TSO (Transmission System Operator) of the Spanish electricity system.
Red Eléctrica, as system operator, guarantees the continuity and security of the electricity supply maintaining the constant balance between generation and consumption in Spain, and it performs these functions under the principles of transparency, objectiveness and independence. In addition, Red Eléctrica is the manager of the transmission grid and acts as sole transmission agent.
The organizational structure of the Company was transformed in 2008 into a holding structure so as to strengthen the separation and transparency of the regulated activities in Spain - transmission and system operation - from the remaining activities. The holding company of the Group is Red Eléctrica Corporación, which has two dependant subsidiaries: Red Eléctrica de España, responsible for the electricity activities in Spanish territory, and Red Eléctrica Internacional, responsible for the Group's activities internationally.