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    IBE   ES0144580Y14

IBERDROLA, S.A.

(IBE)
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Delayed Bolsas y Mercados Espanoles  -  11:38 2022-08-18 am EDT
10.91 EUR   -0.37%
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Iberdrola reaffirms its investment of more than GBP3 billion in UK networks following new regulatory framework

07/01/2022 | 10:26am EDT

Iberdrola maintains its 2023-2028 network investment plan in the UK after learning of the new RIIO-ED2 regulatory cycle framework published yesterday.

The company will invest more than GBP3 billion over five years, with the aim of continuing to drive the UK's energy and digital transformation as it transitions to an electrified, carbon-free economy.

The plan materialises the vision of Iberdrola's subsidiary ScottishPower to build a network capable of meeting the challenge of achieving Net Zero - zero net emissions - across 105,000 kilometres of network and 30,000 substations, which will benefit millions of customers in Scotland, England and Wales. In the coming weeks, the company will continue to work with Ofgem to finalise the details of its plan.

These investments will contribute to the growth of low carbon technologies to meet the UK's climate targets, with 670,000 electric vehicles, 370,000 domestic heat pumps and an additional 5,000 MW of renewable generation capacity.

ScottishPower's initiative - the UK's first 100% green energy company - will also have a significant socio-economic impact as, associated with these investments, it plans to hire more than 1,100 professionals and generate thousands of indirect 'green' jobs over the period.

Among the objectives of this network investment plan are: The development of a Net Zero ready network, continuing to adapt the infrastructure to make it more resilient and reliable, using innovative, flexible and efficient solutions. The innovation and efficiency built into the plan will save customers GBP173 million; To be the trusted partner of its customers and the communities in which it operates, supporting them by offering enhanced services tailored to their needs and going the extra mile with vulnerable customers.

Preparing the business for a digital and sustainable future by embedding new digital approaches, innovation and process redesign to save customers over GBP60m, prioritising sustainability in order to reduce our carbon footprint by 38% by 2028.

NETWORKS, KEY REGULATED ASSETS FOR IBERDROLA

Iberdrola will invest 30 billion euros in its network activity until 2025, representing 40% of its 2020-2025 plan, in which these regulated assets have become one of the central pillars of its strategy and a key infrastructure for moving towards a digital green economy. As a result, its network assets will amount to EUR47 billion by 2025 and will be located mainly in countries with an A rating.

Iberdrola operates one of the most important electricity distribution systems in the world: more than 1.2 million kilometres of power lines, supplying electricity to more than 34 million people worldwide.

The company has 15 million smart meters in the world, which will be close to 17 million by 2022 and will exceed 21 million by 2025.

Contact:

Tel: +34 91 784 32 32

Email: comunicacioncorporativa@iberdrola.es

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 45 107 M 45 724 M 45 724 M
Net income 2022 4 210 M 4 267 M 4 267 M
Net Debt 2022 44 350 M 44 957 M 44 957 M
P/E ratio 2022 16,5x
Yield 2022 4,26%
Capitalization 68 063 M 68 994 M 68 994 M
EV / Sales 2022 2,49x
EV / Sales 2023 2,54x
Nbr of Employees 39 737
Free-Float 98,2%
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Last Close Price 10,91 €
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José Ignacio Sánchez Galán Chairman, President & Chief Executive Officer
José Sáinz Armada Director-Finance, Control & Corporate Development
Fernando Lucero Batalla Head-Information Technology & Finance
Maria Dolores Herrera Pereda Compliance Director
Juan Carlos Rebollo Liceaga Group Director-Administration & Control
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