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Iberdrola and Repsol seek a new regulatory ‘guru’ in the midst of legislative fluctuations

Iberdrola Y Repsol they have gone on the hunt for a regulatory ‘guru’ to consolidate their strategy in the face of future regulatory changes. Both the company he presides over Ignacio Galanlike the group he leads Joshua Jon Imaz have launched parallel selection processes to incorporate a person in charge of Public Affairs, whose functions would include that of advising their teams when it comes to officially positioning themselves on the regulatory adjustments of the Government, as well as that of build bridges with the Administration.

The positions that both companies have defended in the face of the consecutive reforms that the Minister for the Ecological Transition, Teresa RiberaThey have been diametrically opposed. From the cut to the windfall profits, to the adjustment to the Recore or the cap on the gas. Since the energy crisis broke out last year, Galán has been entrenched in a frontal rejection of the set of decree reforms that the minister has carried out, to the point of publicly questioning the legal certainty of Spain.

Both Josu Jon Imaz, and the president of the leading Spanish oil company, Antonio Brufau, have opted for a more moderate discourse. Repsol’s CEO described our country, in recent statements, as “one of the best places in the world in terms of stability for investment”. All in all, two of the biggest benchmarks in the energy sector in the Spanish market have decided to strengthen their team in regulatory matters in parallel with the implementation of the gas price cap -this very Tuesday-, the last of Ribera’s great initiatives to deal with to lower the electricity bill.

In both calls, the function of intermediary with the public officials that the new position will have to carry out stands out. Repsol details that the transfer must facilitate contacts between managers and experts of the group with public decision makers in specific matters of interest, as well as developing advocacy actions (defense of the brand) at different levels of the Administration. From the oil company they explain to this medium that the aforementioned selection process is framed in the most absolute normality of the company.

Iberdrola indicates that the new position will assume the responsibility of preparing the single narrative (storyline) that the different areas of the group’s management must defend, adapting the discourse according to the circumstances, in order to “get the necessary influence in each case”. “It is not the same to convince an idea to a business, a counterpart in a company, a technician from the ministry or the heads of the country’s energy policy,” they detail from the first Spanish electricity company.

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The new signing will coordinate the story of the different business areas of the two energy companies to achieve maximum influence when addressing certain debates

Both energy giants launched the call for employment almost at the same time. The Repsol process has been open for a couple of weeks and has already received around two hundred applications. Iberdrola adds around a hundred requests since he launched the contest last week. In both cases, highlights the degree of coincidence of the requirements that are demanded of the candidates and the functions attributed to the position.

Iberdrola, which has generally been more harmed by the regulatory twists of the Government of Pedro Sanchezstresses that the new head will have to work with the different business areas of the group to unify the company’s position, arbitrating before a possible conflict of internal interests. This is a key issue given the vertical integration presented by giants such as the company chaired by Galán, which leads to unique situations in which the same law can favor one of its businesses, but harm other areas of activity. In addition, the future signing will become Iberdrola’s benchmark for new regulatory developments in the field of renewables and electrification. The company has remained silent before the questions of this medium.

Repsol’s call points in the same line. The new head of Public Affairs will assume the coordination of transversal regulatory files, at a national and international level, a task that must be carried out hand in hand with managers and specialists from the different businesses of the group. From this position, the new figure will contribute to generate ‘company position’ in different matters, that is, to define the messages that Repsol will issue to its stakeholders in the field of public decision-makers.