Mario Ruiz-Tagle, CEO of Iberdrola España, highlights: “Home-grown energy is key to Spain and Europe’s energy autonomy, security and industrial competitiveness”

The CEO of Iberdrola España underlined the opportunity to promote “affordable and indigenous” energy to advance energy autonomy and industrial competitiveness in the current geopolitical context.

# Electrificación

Mario Ruiz-Tagle, CEO of Iberdrola España, and another senior executive take part in a panel discussion with microphones in an institutional setting.

Iberdrola España CEO argues that electrification is “the shortest path” for Spain and Europe to strengthen their industrial competitiveness

At an event organised by Club Siglo XXI in Madrid, Mario Ruiz-Tagle, CEO of Iberdrola España, highlighted the potential of Spain and Europe to move towards an energy model based on their own resources — such as sun, wind and water — and raised the need to take strategic decisions: “We must make the decision. Do we want to depend on the Strait of Hormuz or not?”.

The CEO of Iberdrola España stated that the current scenario, marked by the war in Ukraine and the conflict in the Middle East, has exposed the fragility of multilateralism and the need to strengthen energy supply with indigenous resources: “We haven’t finished one crisis and another is already beginning”, he noted, recalling that gas and oil prices continue to significantly affect the European economy.

Electrification and industrial competitiveness in Spain

Mario Ruiz-Tagle argued that electrification is “the shortest path” for Spain and Europe to strengthen their industrial competitiveness. In this regard, he called for a common direction of effort and for creating the conditions for the development of the industrial fabric.

In the case of Spain, and given the absence of fossil fuels such as natural gas or oil, he highlighted that the country has one of the most robust energy mixes in Europe for advancing decarbonisation, with a significant presence of renewable energy and nuclear power.

The CEO of Iberdrola España also noted that the country has “a historic opportunity” following the investment made in renewables, which has helped to reduce the price per kilowatt hour, despite the tolls and taxes that undermine competitiveness.

Mario Ruiz-Tagle warned that system firmness remains a challenge and called for accelerating the deployment of energy storage technologies, from pumped-storage hydropower systems to next-generation batteries. “We cannot do things in reverse: produce first and then figure out how to store it”, he stated.

The importance of investing in electricity grids and establishing a stable regulatory framework in Spain

The CEO of Iberdrola España expressed concern about the congestion in the electricity grid, with connection capacity virtually saturated. He noted that approximately 170,000 MW are connected and a similar amount awaiting access, which limits the entry of new demand: “There is a great deal of demand that wants to come in, but cannot”.

In this context, he called for accelerating investment in electricity grids and providing them with adequate and predictable remuneration. He mentioned that the PNIEC envisages €55 billion until 2030 for grid investment and pointed to the economic impact of underinvestment: “For every megawatt we fail to invest in the grid, we lose approximately ten million euros in GDP”.

He also stressed the need for a stable regulatory framework to attract long-term investment, in an environment in which “competition takes place within Spain, but also on the global stage”.

The key role of nuclear energy in Spain’s energy mix

Mario Ruiz-Tagle called for a measured analysis of the key role of nuclear energy in Spain’s energy mix and for observing the experience of other European countries such as Germany, Belgium and France.

The CEO of Iberdrola España emphasised that dispensing with this technology when Spain’s nuclear fleet is “in the prime of its life” would be comparable to “leaving hospital with a serious illness and cancelling your life insurance”. In this regard, he proposed keeping the nuclear power stations in operation until Spain has sufficient energy storage technologies in place.

Mario Ruiz-Tagle, CEO of Iberdrola España, highlights: “Home-grown energy is key to Spain and Europe’s energy autonomy, security and industrial competitiveness”

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