Sánchez Galán (Iberdrola) apologizes for calling regulated market users "fools"

• Galán "Only the idiots who continue with the Government's regulated rate pay more electricity"

The president of Iberdrola,

, has apologized for calling consumers covered by the

"fools" through a message published late this afternoon on the company's Twitter account .

"Ignacio Galán, chairman of Iberdrola, wishes to apologize sincerely in the event that someone had been offended by some phrases expressed in a colloquial way, which were not intended to hurt anyone, and expresses his utmost respect for all consumers", reads the message.

Sánchez Galán assured on Thursday that

than in 2018 because taxes have been lowered and that only those who continue with the regulated rate pay more, whom he called "fools".

To the regulated rate, only available for contracted powers up to 10 kilowatts (kW) and essential to qualify for the social bonus, no type of discount or promotion can be applied, since the price is set by the Government, which excludes possible Negotiations between client and seller.

The regulated rate has historically been cheaper than the free market in which the rest of Spanish consumers pay their bills, according to the

, although in recent months in the wholesale market of record prices have been recorded for electricity, largely due to higher gas prices.

According to the CNMC household panel for the second half of 2020, the monthly expense billed to a typical household covered by the regulated rate was more than 20 euros cheaper than one on the free market (28.2% cheaper).

Since 2019 that saving has always been greater than 15%.

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