Iberdrola Highlights Strong Ties With The UK Government As Rachel Reeves Visits Its Madrid Offices

The UK Chancellor of the Exchequer, Rachel Reeves, met with the Executive Chairman of Iberdrola, Ignacio Galán, during her visit to the company’s offices in Madrid. The meeting reflects the strong and ongoing relationship between Iberdrola and the UK Government.

The United Kingdom has become Iberdrola’s main destination for international investment. Under its current strategic plan, the Group intends to invest €20 billion in the UK by 2028. A large share of this funding will go toward expanding and modernising the country’s electrical networks. Strengthening these networks is essential for supporting the electrification of the economy, improving energy security, and enhancing overall competitiveness.

With the recent approval of a new tariff framework for electricity transmission, Iberdrola expects to significantly increase its investment in this area. According to the company, the amount dedicated to transmission network development will be quadrupled, reflecting both the scale of the UK’s energy transition needs and the strategic importance of the British market for the Group.