Iberdrola proposes to customers in France to unsubscribe due to price increases

Iberdrola is proposing to thousands of its electricity customers in France for whom the contract period expires that they unsubscribe instead of renewing it and that they opt for the regulated rate, since with the current market conditions they will have to apply much higher prices. The Spanish electricity company, which is the second operator in the French market behind the historic EDF (now in the process of total nationalisation), has launched a campaign of sending letters to those customers suggesting that they leave, although it stresses that has no intention of withdrawing from the retail business in France.

In an explanation communicated this Saturday, Iberdrola insists that he is not kicking out those subscribers and that “it will continue to supply French customers”. But also that “extremely high prices and extreme volatility in the current global energy context requires us to pass on those costs to customers when a new contract term is established”.

In practice, this means that the prices that will apply to them if they continue with Iberdrola would be “much higher” than those of the regulated rate which is guaranteed in France to private customers who opt for this option. According to the Spanish electricity company, what it is doing with its initiative is “urging them to make the best decision” and that “prioritizing full transparency and the protection of consumers”.

So far “a few thousand” customers have received his letter, and in fact most do not have to renew their contracts until 2023 or later. Iberdrola does not specify how many private clients it has in France, where it has been present since 2002. It limits itself to indicating that as of December 31 there were 1.9 million between Portugal, France, Italy and Germany. What it does indicate is that in 2021 he sold 1,313 gigawatt hours of electricity and 801 gigawatt hours of gas in France.

Currently, he is building a 496 megawatt offshore wind plant of power in the bay of Saint Brieuc, in Brittany, which should come into service at the end of 2023, and which will be added to the 118 megawatts of wind installations already in operation with which it was made when buying the Aalto Power company in 2020. His plans, which entail an expected investment of 4,000 million euros in that country in the next four yearss, include projects for a total of 1,300 megawatts of renewables. AND

Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.

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