Iberdrola's chairman Ignacio Galán has expressed concerns over the UK Shadow Chancellor Rachel Reeves' regional electricity pricing proposal, which could lead to prolonged uncertainty and inflated project costs for wind farm investments. He emphasized that such reforms, advocated by Energy Secretary Ed Miliband, might jeopardize the company's £24 billion investment pledge in the UK. While proponents of the reform argue it might benefit households, Iberdrola highlights that it could disrupt planning and financing for renewable projects, ultimately threatening the UK's renewable energy commitments.
"The so-called 'zonal pricing' risked prolonging uncertainty and inflating project costs, which could undermine the group's commitment to UK investment."
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