Iberdrola will reduce energy prices from July 1, according to a statement released today by the company.

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According to Iberdrola, the price update “will reproduce an average reduction of 28% on the price of energy in customers’ portfolios”, it said, recalling that “the Energy Services Regulatory Entity (ERSE) communicated yesterday [Thursday] the increase in the value of network access tariffs, which will be applied to all energy consumers from July”.

The company stressed that with this update, it “continues to focus on offering competitive solutions” and assured that it can guarantee “all its customers an electricity price below the regulated tariff”.

Iberdrola even declared that its customers would achieve “an average saving of 10% compared with the regulated market”.

According to the company, “aware of the current social and economic context and the potential impact of the increase in network access tariffs on its customers’ bills, […] guarantees the reduction of energy prices, as well as the maintenance of the discounts provided for in its customers’ contracts”.

ERSE has approved the maintenance of electricity prices for the regulated market from July 1, according to a statement issued on Thursday.

According to ERSE, “compared to the average price in 2022, consumers will see a 1.0% increase in the final sales price in 2023”, stating that “this increase is lower than the previously announced increase for this year of 3.3%, due to the decrease that end-customer sales tariffs saw in April 2023”.

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