The president of Iberdrola apologizes after calling consumers "fools" with the regulated rate

The president of Iberdrola, Ignacio Sánchez Galán, has asked this Friday for "sincere apologies" in case "someone felt offended" after calling consumers with regulated electricity rates "fools". Galán has assured that the statements took place "in a colloquial environment" and has defended his utmost respect for clients and consumers, according to company sources.

Galán assured this Thursday in Sagunto (Valencia) that customers who are covered by the semi-regulated electricity rate, the voluntary price for small consumers (PVPC), are “fools”: “Only the fools who continue in the regulated tariff set by the Government pay that price. Some statements against which several members of the Government have charged.

The first to charge against the president of Iberdrola was the first vice president of the Government and minister of Economic Affairs and for Digital Transformation, Nadia Calviño. “The lack of empathy seems amazing to me, the lightness and the tone with which such an important issue is discussed at an individual level for families and Spanish citizens, but also for the economy, is amazing,” Calviño said on TV3, who has recalled that the Government has been taking "several months" taking measures to lower the price of electricity and has emphasized the importance of everyone "putting their shoulders together".

The Minister of Consumption, Alberto Garzón, has censured Galán's "verbal excess" and has demanded respect for the people who take advantage of that rate, given that they are precisely the "most vulnerable families". The Second Vice President and Minister of Labor, Yolanda Díaz, has been very forceful against Galán's words. “I would tell him that he should treat the public with respect,” Díaz has claimed, who has also demanded from the businessman that he “must rectify immediately, he is not just any person.”

The person in charge of Labor has warned, like Garzón, that these consumers of the regulated rate are in many cases "the weakest" and has regretted that "a person like him mocks" them. "It is a shame". The vice president also recalled that the three large electricity companies have increased "their enormous profits by 47%", for which she has demanded that the president of Iberdrola "have a little empathy with his country".

After criticism from the ministers, Iberdrola released a note announcing that it had started "a campaign on the advantages of the free market rate compared to the one regulated by the Government." The company insisted that "the free rate ensures stable and cheaper prices." On the contrary, "the contracts of the rate regulated by the Government have as a reference the daily fluctuations of the energy markets and are unbearable for the citizens assigned to this rate".

Iberdrola has explained that both the president and the company as a whole point out that the only objective, in this case, is that citizens "do not pay a premium for electricity consumption due to unforeseen issues such as the regulated rate". The company has reiterated that in recent months 80% of electricity demand "has not changed the price at all." “As President Galán said yesterday, for 80% of the demand the prices are lower now than a year ago”, he recalled, adding that “only 20% of the electricity demand is regulated rate”.

From Iberdrola they believe that the Government "made the mistake of linking the price of this rate to the wholesale market price" and, therefore, with the international price of gas skyrocketing, electricity "has followed the same path, seriously affecting the rate regulated”. "The Government, despite the information provided by Iberdrola, has not resolved this problem: the increase in the prices of the regulated rate without affecting the 80% of the demand that enjoy fixed and lower prices," he insisted. For this reason, the company has reiterated that the mechanism of the regulated rate must be changed, "an instrument in Spain that is unique in Europe". “Iberdrola has successively raised it that way. In this context, the indicated words were produced in a relaxed atmosphere ”, he has indicated.

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