Monday, 15 September 2014
Galán calls for a "European Union for Energy" to improve industrial competitiveness
The president of Iberdrola, Ignacio Galan, has advocated for the creation of a European Union in the energy market and defended the need to establish a single regulatory framework as well as a "predictable and harmonious" regulatory framework to ensure "homogeneous" compliance legislation in all Member States.
Speaking at the XIX Spain-United States Forum held in Marbella, the manager said to improve industrial competitiveness in Europe is a "must" the creation of a "European Union for Energy" by a new common energy policy based on four pillars:
1. More Europe
2. More market
3. More stability
4. More long-term visión
In order to do that, is required a predictable and harmonized regulatory framework and the establishment of a single regulator, added in his speech.
“More Europe, more market, more stability and more long term vision”
According to the head of Iberdrola, the main problem affecting the European energy system is "very high" cost relative to the United States. In this sense, Galán explained that in recent years the United States has focused all its efforts on containment in order to increase the competitiveness of its industry.
Galán stressed that the proposal is in line with what was said by the new president of the European Commission, Jean Claude Juncker, as one of the most important structural reforms in order to improve industrial competitiveness.
Iberdrola chairman noted that the European Union needs a predictable and harmonious regulatory framework and the establishment of a single regulator that ensures uniform enforcement in all member states. These proposals have already been put to the leaders of the EU and other countries, by the Magritte group, which brings together the top 10 utilities in Europe, or the European Roundtable, which brings together the 50 largest companies in the industry, located between Iberdrola.
To solve this problem, the manager proposes to eliminate tariffs concepts that "have nothing to do with the services provided" as being a series of taxes and various obligations and create a system of support for renewable energy neutral by technology, which, according to him, would be favorable to the growth of the most mature.
Also, the president of Iberdrola says it is necessary to encourage the construction of new interconnections; increase the use of existing assets; adequately compensate them for the ability to support the growth of renewable sources and promote investments to introduce new smart distribution networks technologies.
Moreover, Galán said it is "essential" streamline regulations to combat climate change betting on reducing emissions as the main objective for which it is essential that the carbon market work "correctly".
Investment effort in USA
During his speech at the Spain-United States, the manager has emphasized a commitment to long term of Iberdrola in USA and recalled that the Spanish group plans to invest 10,000 million dollars (about 7,700 million at current exchange rates) in the country until 2020.
Iberdrola, which currently operates in 24 states in the United States has 5,000 employees who manage 30,000 million in assets, representing 25% of the Group total.
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