The Chairman and CEO of IBERDROLA, Ignacio Galán, is a firm advocate for liberalising the electricity sector in Europe as a key factor in boosting a sector that acts as a catalyst in the EU economy, with 750,000 direct jobs and investments amounting to €50,000 million.

During his participation in the conference The completion of the EU internal energy market: getting to 2014", held this morning in Brussels, Mr. Galán also explained that completing the internal electricity market was essential for European integration, as it would benefit industry and consumers alike and could play a major role in economic recovery.

In this regard, the Chairman and CEO of IBERDROLA reminded the audience of the negative effect to be expected from the interventionist policies implemented in some member states.  He mentioned the Spanish tariff deficit, which amounts to €5,000 million each year, and the numerous taxes applied to the sector's activity in the autonomous regions.

Mr. Galán announced that there was a need for clear, objective energy policies and stable, predictable regulations. He also pointed to the consequences to be expected from Germany's nuclear shutdown and the uncertainty regarding the development of renewable energies.

The Chairman and CEO of IBERDROLA reminded listeners of the need for member states to transpose the EU directives and called for more autonomy for regulators, with a view to reinforcing the correct implementation of the European legislation.

Mr. Galán also pointed out that the member states should give priority to increasing the number of interconnections and ensuring that they are used properly, as they will allow to improve the quality of supply and integrate the periphery countries.

The company's Chairman and CEO also reiterated his commitment to clean energies, with wind energy and combined cycles at the forefront, and emphasised the need to provide adequate remuneration for back-up technologies, such as pumped-storage hydroelectric plants. 

The conference was inaugurated by the EU Commissioner for Energy, Günther H. Oettinger, the Polish Deputy Minister of Economy, Maciej Kaliski and the Member of the European Parliament (MEP) Lena Ek.

As well as Ignacio Galán, other major names from the sector also took part in the conference, such as the CEO of E.ON, Johannes Teyssen, and the Chairman of GDF Suez, Jean François Cirelli.

To watch the various speeches during the day, please click on the following link: http://webcast.ec.europa.eu/eutv/portal/index.html