Iberdrola will not raise prices to the industry if the Spanish Government withdraws the cut to its benefits

Iberdrola will renew the contracts of industrial customers who request it to avoid them having a cost problem, but as long as the Spanish Government withdraws the rate that reduces benefits in the electricity wholesale market to non-emitting technologies, including some renewable ones.

The company says in a statement that it has promised this Thursday not to vary the prices of electricity to the industry it supplies so as not to affect competitiveness, “as long as electricity production is not impaired with harmful taxes.”

He has asked the Executive withdrawal of the royal decree-law and the law that cut the remuneration that these technologies obtain in the market for the high price of gas and CO2.

The Chairman of Iberdrola, Ignacio Sánchez Galán, has indicated that “the will of the Government to correct what has not been done well and to reach an agreement is confirmed.”

Iberdrola has today been in favor of the Government making the necessary changes in the royal decree-law and in the law that reduce the benefits in the market of non-emitting plants that do not consume gas or emit CO2, “including their withdrawal” .

According to Iberdrola, having maintained the prices agreed with the industry so far this year, despite the increase in the price of electricity, has saved Spanish industry 2 billion euros.

Likewise, the company has explained that electricity companies have not benefited from the increase in electricity prices, but, on the contrary, have borne the “exorbitant” costs of the price of natural gas.

In Iberdrola’s opinion, “the Government must correct two errors, the royal decree and the law, which were surely produced due to lack of information.”