September 19, 2020

The Government elects Beatriz Corredor to preside over Red Eléctrica de España | Economy



Beatriz Corredor will be the next president of Red Eléctrica de España (REE). The former Minister of Housing with Zapatero will join the company’s board next Tuesday and, on the same day, the Appointments and Remuneration Committee of the company’s board of directors will propose her as the company’s non-executive chairwoman, a position in which she will replace to also former Minister Jordi Sevilla, who submitted the resignation on January 27.

The appointment of Broker must follow a series of procedures until it becomes a reality. In addition to its proposal to the board of directors to approve its ideology to be president, it will have to be ratified by the general meeting of shareholders and, finally, receive the approval of SEPI, the main shareholder of the firm with 20%. The rest of the capital is divided into many packages that mainly control pension funds, which cannot have more than 3%, and minority shareholders on the stock market.

Corredor, who was elected deputy of the PSOE on the list of Madrid in the last elections, presented the resignation of the position on January 13 for “personal reasons.” Lawyer, in 1993 she obtained a position as a property registrar. In 2003 he joined the PSOE, for which he was councilor of the Madrid city council – he agreed with Pedro Sánchez – and was Minister of Housing during the Government of José Luis Rodríguez Zapatero between 2008 and 2010.

Since September 2018 she is president and director of the Pablo Iglesias Foundation. She has also held the positions of president of the Public Land Business Entity (SEPES) and director of the Municipal Housing and Land Company (EMVS).

In Red Eléctrica, it will have an estimated compensation of over half a million euros. It will be the second woman to preside over Red Eléctrica after Paulina Beato, who was in charge of the company after its creation in the 80s.

Corredor will replace Jordi Sevilla who presented the resignation on January 27 for his disagreements with the Vice President and Minister for the Ecological Transition, Teresa Ribera. This circumstance has caused the appointment of his replacement has been very measured by the Government. Corredor enjoys the confidence of the president, whom he robbed when he made the crossing of the desert before his second attempt to reach La Moncloa that he offered with the motion of censure to Mariano Rajoy.

He also has the support of Vice President Ribera, who has been at the end of the street of his appointment, as he was with Sevilla. Corredor, as president of Red Eléctrica, will face frequently with the minister and, above all, with the Secretary of State for Energy, Sara Aagesen, who assumed the position trs the formation of Government.

Red Eléctrica de España is the transport manager of the high voltage electricity network and as such also controls access and connection permits. For this work, he receives a remuneration from the system that, precisely, has been reduced in the circular approved by the National Commission of Markets and Competition (CNMC). This cut generated the protest of Jordi Sevilla and was part of his disagreements with Ribera.

In recent years the group has created a corporation and has expanded its range of action to Latin American countries such as Chile and Brazil. Likewise, it has acquired the majority of the capital of Hispasat, with which it has entered the satellite sector.

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