Rachel Reeves, the British Chancellor of the Exchequer, meets with Ignacio Galán at Iberdrola’s headquarters in Madrid

The UK Chancellor of the Exchequer, Rachel Reeves, has met with Iberdrola’s Executive Chairman, Ignacio Galán, at the company’s offices in Madrid. The visit demonstrates the strength of the relationship between Iberdrola and the UK Government. 

This country has established its position as the company's main investment destination. The Group plans to invest €20 billion in the UK by 2028 as part of its strategic plan. Most of this investment will be dedicated to the development and modernisation of electrical networks, a key area for supporting the electrification of the economy, strengthening energy security and boosting competitiveness. Following the approval of the new tariff framework for electricity transmission, the company will quadruple the amount allocated to this business.