Ignacio Galán sees the European Commission’s package of measures on networks as a “key milestone”

Ignacio Galán considers that the package of measures proposed by the European Commission to strengthen electricity networks represents a “key milestone in promoting security of supply and competitiveness in Europe through electrification”.

The package marks a new approach to modernising and expanding network infrastructure, the backbone of the European energy system. It envisages a fivefold increase in EU funding for networks in the next multiannual budget, to €30 billion, and the construction of eight electricity highways to better integrate energy islands – such as the Iberian Peninsula – into the EU system and reduce fossil fuel imports.

The executive chairman of Iberdrola has stressed that networks are “essential to maximise the expansion of renewable and domestic energies and storage infrastructure”, facilitating new uses of electricity and helping to reduce energy costs for industries and households.

The measures proposed by the Commission also envisage accelerating electrification through more streamlined authorisation processes that contribute to the goal of ensuring that cheaper clean energy flows efficiently across all member states. Galán welcomed the promotion of the “tools” needed to prioritise “critical projects to reduce bottlenecks, streamline permit-granting procedures and encourage investment with stable regulatory frameworks”.

“Now, it is essential that the Commission and the member states work together to implement these measures and remove any obstacles to investment in networks,” said the Iberdrola executive chairman, who also highlighted the essential role of low-voltage networks “so that EU industries and citizens can benefit from clean, indigenous and affordable electricity”. He also expressed the willingness of Iberdrola – the largest European electricity company by market capitalisation – to continue investing and creating jobs in the European Union.