Thursday, October 28

Galán says he is open to “dialogue” to “redirect” the government’s “terrifying interventionism”


The president of Iberdrola, Ignacio Sánchez Galán, affirmed this Tuesday that the multinational is “open to dialogue and to achieve a stable and predictable regulatory framework” in the face of the situation that is occurring due to the rise in the price of energy and hopes that “it will can redirect “the” terrifying interventionism “that, in his opinion, is taking place in Spain throughout the electricity system.

Carmona: from the “pim-pam proposal” to the gatherings and the vice-presidency of Iberdrola

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Galán has held these demonstrations in Bilbao, where he has traveled to inaugurate the Global Smart Grids Innovation Hub, an innovation center that will contribute to developing the electrical grids of the future and in which he has proceeded to sign a collaboration agreement with the Provincial Council of Bizkaia for its development.

In his speech, the Chairman of Iberdrola highlighted the need to create a “climate” that conveys “confidence to investors.” In this sense, he stated that it is necessary “a stable, predictable market that guarantees those who give money that they fall into good hands”, reports Europa Press.

Galán has trusted that the situation that is being lived in Spain, with a “terrifying interventionism” in the entire electrical system, “can be redirected”. He pointed out that the energy price situation must be addressed with a “rigorous” analysis and stressed the importance of legal certainty.

In his opinion, the measures that have been adopted have not been carried out with rigor and it should have been “avoided taking structural measures for conjunctural moments.” It has indicated that the decisions must be taken “respecting the legal and regulatory framework of the EU”. As he has indicated, there are policies in the EU that are a “benchmark” and “cannot be called into question.”

In his opinion, this is not the time to criticize the carbon emissions market, which is at record highs and pushes up electricity prices, when it has been shown to be “a success”, so he believes that it cannot be “put into question”.

Likewise, he has defended that any measure adopted must be coordinated in Europe and not adopt “unilateral measures of each country”, because it is “a common problem at the European level.” In his opinion, breaking the “polluter pays” principle to go “the polluter pays and the non-polluter pays more” no “is the line.” Taking “hasty unilateral” decisions can “fragment” the European internal market and cause the energy transition to “be delayed”.

The president of Iberdrola has assured that not carrying out a rigorous analysis leads to situations that “no one wants, such as wind or photovoltaic park shutdowns”, because “they are not competitive due to the new regulation.” Galán, referring to Basque suppliers, has regretted that they are affected by the consequences of this situation, but has indicated that “there is no choice” but a “paralysis” of investments.

The electricity company has decided to paralyze the bidding processes in progress for goods and services associated with the construction of new renewable projects in Spain until a detailed evaluation of the economic viability of these projects after the shock plan approved by the Government to reduce the price of the light.

Galán, who has just closed the controversial signing of former Socialist councilor Antonio Miguel Carmona as vice president of Iberdrola’s Spanish subsidiary, has warned of the “risk” of spreading this problem of rising energy to “other consumers”, has stated that Iberdrola “is always open to dialogue.” “If any company is capable of reaching agreements around the world, it is us (..), it is a company always open to dialogue and to achieve a stable and predictable regulatory framework, based on the market economy.” He added that only with this framework “can the necessary investments continue.”



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