• The electricity plants located abroad have contributed over 50% of the energy generated by the Group
• The Company’s combined cycle gas power plants have contributed 48.6% of all the electricity produced, with the renewable energy plants contributing 11.4% and the hydroelectric power stations contributing 8.3%
• The Company surpassed 41,500 MW of installed power by the end of September 2008, 26,300 MW of which are located in Spain
• 64% of the total generated by IBERDROLA in Spain has been free from CO2 emissions, thanks to the focus on clean technologies

The IBERDROLA Group achieved an electricity production of 106,442 million kilowatt hours (kWh) during the first nine months of 2008, according to the first provisional data, a figure that represents an increase of 22.7% compared with what was achieved during the same period of the previous year.

This amount of production was achieved thanks to the process of international expansion of the Company and a greater investment in clean generating technologies, in line with its current strategy. The electricity power plants located abroad have contributed over 50% of all the energy produced in this period.

Specifically, the Company’s international generation during the first nine months of the current year rose to 55,743 million kWh, 52.4% of the total amount, with 28,507 million in Latin America (+22.3%); 19,928 million in the United Kingdom (+69.1%); 6,414 million in the United States (+182%), and another 894 million kWh in the rest of the world (+22%).

In Spain, IBERDROLA’s production between January and September reached 50,699 million kWh (+4.2%), with a noteworthy increase in generation through combined cycle gas power plants (+62.3%, up to 14,689 million kWh), nuclear power plants (+18.7%, up to 18,796 million) and wind farms (+10.1%, up to 5,947 million kWh).

IBERDROLA’s combined cycle power plants throughout the world generated 51,689 million kWh in these three quarters, a figure that represents an increase of 46.6% compared with the previous year and raises the importance of this technology in the Group’s production balance sheet to 48.6%. The performance of the renewable energy installations also stands out, contributing 12,095 million kWh (+40.8%*) and now reaching 11.4% of the total in terms of its importance.

In addition, the electricity generated by the nuclear power plants of IBERDROLA has risen to 18,796 million kWh (17.7% of all the production); the electricity generated by the thermal power plants has risen to 9,716 million kWh (9.1%); the electricity generated by the hydraulic power plants has risen to 8,825 million kWh (8.3% of the total), and the electricity generated by the cogeneration power plants has risen to 5,261 million kWh (4.9%). Fuel oil now only represents 0.1% of the whole Group’s generation (60 million kWh). 

The emissions into the atmosphere in this period were 303 grams of CO2 per kWh at the Group level and 160 grams of CO2 per kWh in Spain. In addition, 37.3% of all of IBERDROLA’s production has been free from CO2 emissions, a figure that has risen to almost two thirds in Spain (63.6%), thanks to the focus on clean generating technologies.

IBERDROLA surpasses 41,500 MW of power

IBERDROLA has continued to diversify and expand its generating network throughout the world during the first three quarters of the year. The Company has reached an installed capacity of 41,578 megawatts (MW), 5% more than in the same period of 2007. By technologies, the combined cycles represent 31.1% of the total power; hydraulic power represents 23.4%; renewables represent 20.4%; thermal power represents 11.3%; nuclear power represents 8%; fuel oil represents 4.3%, and cogeneration represents 1.4%.

In Spain, the Company has passed from 25,917 MW to 26,293 MW, which represents an increase of 1.5%. Elsewhere, the capacity in the United Kingdom is 6,653 MW (+3.8%); 5,554 MW in Latin America; 2,924 MW (+74.8%) in the United States, and 761 MW (+39.1%) in other countries around the world.

The focus of the Company to grow in basic energy trade through generating plants that are respectful of the environment, which has lead it to become a key actor in the fight against climate change**, will continue in the coming years, with the opening of more renewable installations, combined cycle plants and hydroelectrical plants capable of meeting demand, both in Spain and abroad.

* Taking into account the production of the renewable energy installations of ScottishPower from April 2007
** In September of this year it was designated as best utility in the world for its strategy for combating climate change, according to the Climate Leadership Index

IMPORTANT INFORMATION

This information does not constitute an offer to buy, sell or exchange, nor does it constitute the solicitation of an offer to buy, sell or exchange securities. Iberdrola, S.A. shares may not be offered for sale or sold in the United States except through a statement of effective notification in conformity with the provisions of the Securities Act or when a valid exemption from the obligation to provide such notification has been granted.