Iberdrola makes record $14,000m investment in UK networks while waiting for Spain to improve its pay framework

Iberdrola You will The largest investment in its history in the United KingdomHe deserves 14,000 million euros Which will be specifically dedicated to Electrical networks He drew two underwater connections, between Scotland and England and between Scotland and Wales, thanks to New rewards framework Which has just been approved by the British government and offers a pay rate of 7%, amid the electricity sector’s struggle to… National Commission for Markets and Competition (CNMC) Improve your proposal To reward investments in networks in Spain.

As the company announced, this is the largest investment in its history, which will be made through British company Scottish Power, And what does that mean? Triple all investments Which is what he did in the UK in recent years. It was the decision Results of the new reward system To the investments in electrical networks that this country has just approved to expand its connectivity and which are committed, among other things, to “responding to evolving requirements,” referring to Risks In Spain, electricity companies need to be recognized to invest in the electricity market, in addition to a The financial reward rate is 7%.

This rate contrasts with the rate currently offered by CNMC in Spain 6.58%Which is considered by electricity companies insufficientAs well as the model they consider does not take into account the risks associated with investments in electrical networks and is considering The maximum recognized investment cost is €257 per kilowattIt warned that it would discourage investments exceeding this amount, because it would not receive a reward.

In Iberdrola’s view, the UK’s investment outlook is better, and it would do well to make the biggest investment in its history, mainly to build between now and 2031. Two underwater bonding of direct current at high voltage that will add 1100 km of cables It will require the construction of six new substations to transmit power of more than 500 kilovolts.

The project numbers exceed the capacity that Iberdrola expects to have Positive impact of $2.3 billion annually In the British economy this is creating 12,000 job opportunities. At present, the company has already launched a purchasing plan from suppliers of more than 6,000 million.

President of Iberdrola Ignacio Sanchez GalanHe pointed out that this plan is “the largest commitment (by the company) in its history” and that it is “a result of… A clear energy policy By the British government and a constructive dialogue with the regulatory body.

“It will allow us to continue construction Modern, flexible and resilient networks He stressed that this facilitates meeting the growing demand, ensuring energy security, and integrating more clean energy.