RED Union Fenosa becomes Gas Natural Fenosa

The electric utility RED Union Fenosa has changed is brand name to Gas Natural Fenosa, taking the name of its parent company which appeared after the merger of two Spanish companies – Union Fenosa and Gas Natural, Info-Prim Neo reports. RED Union Fenosa president Silvia Radu told a press conference on Tuesday that the move won't affect relations with the company's customers, meaning it won't require any contract changes, and there will be no changes in the utility's rates. The name change will only apply to the utility's brand, and will not involve a modification of the company's formal name registered with the Moldovan authorities. Silvia Radu explained the new brand was an acknowledgment of the parent company’s worth and experience on the market and also an opportunity to improve services. Gas Natural Fenosa is one of the leading multinational companies in the gas and electricity sector, operating in 25 countries and with more than 20 million customers. With an installed capacity of 18,000 MW and gas supplies of roughly 30 billion cubic meters, the company's annual turnover stands at 20 billion euros. In Moldova, RED Union Fenosa operates three distribution networks which it bought from the state in 2010.