LONDON, April 24th, 2025 – Iberdrola Executive Chairman Ignacio Galán today joined UK Prime Minister Rt Hon Keir Starmer MP and European Commission President Ursula von der Leyen at the International Energy Agency (IEA) Summit on the Future of Energy Security, hosted by the UK Government in London.
The landmark Summit, jointly sponsored by Iberdrola and its UK company ScottishPower, convened government and industry leaders from over 60 countries to advance action to map and shape the future of energy security.
Co-hosted by Rt Hon Ed Miliband MP, Secretary of State for Energy Security and Net Zero, United Kingdom and Dr Fatih Birol, IEA Executive Director, the Summit focused on progressing the development of a new draft framework for energy security to address the challenges the world faces.
Speaking in the opening Plenary Session, Mr Galán said that the continued focus on electrification was critical to delivering energy security globally. Iberdrola, as one of the two largest electricity utilities in the world and the largest in Europe, will continue to play its part in supporting governments to deliver on that for their people.
He said: “My message is very clear: electrification is unstoppable, and electrification means energy security. With global electricity demand set to double by 2050, investment in networks, both transmission and distribution, generation and storage is more urgent than ever.
“To achieve a clean, secure and competitive energy source, countries require strong energy policies, attractive returns, faster permitting processes and the rationalization of energy taxation. Creating these conditions will be key to attracting investment and reducing volatility and dependence.”
Iberdrola’s role in the Summit demonstrates an ongoing commitment to delivering clean energy and energy security in the UK and around the world.
Iberdrola is the largest utility in Europe, with a market capitalization of £85 billion, and serves 100 million people worldwide thanks to a diversified portfolio of businesses across the electricity value chain in the UK, the US, Spain, France, Germany, Brazil and Australia.
In the UK, Iberdrola is investing £24 billion up to 2028 through ScottishPower, mainly in transmission and distribution networks and offshore wind. Overall, the Group is dedicating around 70% of its investments to power networks to accelerate electrification as a way to increase energy security and competitiveness, create new industries and jobs, and improve sustainability. Around two thirds of Iberdrola’s global investments are allocated to the UK and to the US.
About Iberdrola
Iberdrola is the largest electricity company in Europe by market capitalization, and one of the top three largest globally, serving a population of more than 100 million people around the world. The company has a workforce of over 42,200 and assets in excess of €158 billion. In 2024, Iberdrola posted revenues of nearly €50 billion, net profit of €5.6 billion, with nearly €10.3 billion paid in tax contributions in the countries where it operates. The company helps to support more than 500,000 jobs in communities across its supply chain, and global supplier purchases topped €18 billion in 2024.
A benchmark in tackling climate change, Iberdrola has invested more than €150 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles. The company operates more than 44,000 megawatts (MW) or renewable energy capacity worldwide, which includes nearly 21,000 MW of onshore wind and 2,400 MW of offshore wind. Iberdrola is on course to have nearly 5,000 MW of offshore wind capacity by the end of 2026.
About ScottishPower
ScottishPower is part of the Iberdrola Group, one of the world’s largest integrated utility companies and a global leader in electrification. It has invested £30 billion in the UK over the last 15 years and will invest another £24bn – £18m every working day – in the UK between 2024 and 2028.
