The result of the elections on July 23rd is not a matter of great concern to Iberdrola's management. This is what the president of the company, Ignacio Sánchez Galán, said on Wednesday in an informal meeting he held with journalists prior to the Convive awards ceremony with which Iberdrola recognizes initiatives that promote nature around its projects in rural Spain.
The executive of the electricity sector that has been hardest on the regulatory policies of the Government of Pedro Sánchez, has been more conciliatory than usual on Wednesday. In his opinion there is a European Union Directive that marks the unstoppable path towards decarbonization and he considers that there is no political party in Spain that is against this route marked in Brussels.
Extending nuclear plants, depending on who pays
Asked about the possibility that a coalition government between the Popular Party and Vox could give a twist to the policy of closing nuclear power plants in Spain, he recalled that whoever governs this is a question of figures and assess the cost of having the plants open and who assumes that expense. If the accounts come out and the needs of the electricity system require it, it will be a matter to be negotiated by any government in charge of the country.
The Chairman of Iberdrola also insisted on his passion for defending democracy and Europe and reminded the audience that he does not like anything different in Spain, in a clear reference to his criticized Iberian exception. At the same time, he sent a message to whoever occupies La Moncloa, reminding them that governments pass and electricity companies remain.
One Galán, more than ten ministers
Specifically, Galán recalled that he has already met more than a dozen energy ministers, so he only asks them to do their best to guarantee the security of the investments that companies have to make to ensure the transition and energy security.
The executive explained that it is not a question of financial amounts but of clarifying the roadmaps for the profitability of investments and facilitating bureaucratic procedures. Once again, the U.S. Inflation Relief Act (IRA) was cited as an example to follow.
Good relationship with Feijóo
Galán acknowledged his good relationship with the Partido Popular candidate, Alberto Núñez Feijóo, with whom he has negotiated for years the conversion of the Galician shipyards.
Regarding the company's own business issues, Galán has assured that the delays in the acquisition of the American company PNMR are under the normality of the country, although he has gone from contemplating the closing of the operation in the second half of 2023 to the first half of 2024.
Given the possibility that it may not be closed, although he prefers not to contemplate it, he does remind that the US has become the main recipient country of Iberdrola's investment, so they will continue to move forward with the rest of the planned projects.