At its meeting with investors in London, Iberdrola has conveyed that rules out extension from the useful life of the Almaraz power plant in Extremadura and that his Closure will be carried out in accordance with the 2019 protocolThe message fits the decision into the framework of the new strategic plan and assumes that the installation will follow the schedule agreed upon by the electricity company and the public company Enresa.
The electricity company, majority shareholder in the plant together with Endesa and Naturgy, incorporates into its 2025-2028 roadmap the closure of the two reactors: Almaraz I in November 2027 y Almaraz II in October 2028, without proposing an alternative extension within the period.
Calendar and effects on Iberdrola's power
In the plan documentation, the company reflects a reduction of almost 1.000 MW associated with its stake in Almaraz, control just over 50% of the asset. Despite this, Iberdrola plans to maintain a high generation capacity in Spain thanks to the renewable deployment which will offset part of that decline.
With the outcome in sight, the plant is already operating in "cessation of operations" modeThe planned refueling for the October 6 has reduced by around 200 temporary reinforcements, when historically this operation mobilized around 1.200 professionals from more than 70 companies specialized in the area.
Extension stalled: taxation and political negotiation
In parallel, the owners have explored a "mini-extension" of about three years which would not alter the final date of nuclear shutdown (2035), but the dialogue with the Government remains stalled. Endesa's CEO, Joseph Bogas, has reiterated that negotiations continue, although without substantial changes.
The idea could be politically acceptable, but it encounters technical limits: Enresa does not have the means to undertake several dismantling operations at the same time and defends the stepwise scheme, so an accumulation of closures would strain its operational capacity.
La taxation has become a decisive factor. The Executive raised in In 2024, the so-called "Enresa tax" will increase by 30%. and, to this day, maintains its refusal to review it. Furthermore, regional differences persist: The Generalitat Valenciana eliminated regional taxes to facilitate the extension of cofrentes, while the Extremadura Regional Government maintains its lien about Almaraz.
Faced with openly pro-nuclear positions, Iberdrola has linked any hypothetical extension to the strict profitability of the business, which would require load reduction and greater regulatory certainty. Given the current situation, the company considers the extension at Almaraz to be cancelled.
Group strategy and role of nuclear power
The 2025-2028 plan provides for 58.000 billion euros in gross investments, with about 65% outside Spain, mainly in the United States and the United Kingdom. In the Spanish market, Iberdrola plans around 9.000 million: some 5.000 million for generation and clients and 4.000 million For distribution networks, figures subject to the evolution of the regulatory framework.
In Spain, the company does not contemplate building new nuclear power plants and focuses its growth on renewables and networks. In general, it accepts studying life extensions when the regulations allow it, but in Almaraz it sets the shutdown on the dates marked and prepares the closing protocols for both units.
The sector, through the Spanish Nuclear Society, has warned that the plant is in a critical point and has asked to consider measures to reverse the closure, citing references of Belgium or SwedenAs of today, Iberdrola's roadmap keeps the calendar and aligns its strategy with a limited weight of nuclear power in the national mix.
The signal sent by the electricity company is clear: Almaraz's extension loses steam and the plant is heading towards a orderly closure between 2027 and 2028, with the taxation, the capacities of Enresa and the political pulse as variables that, for now, do not alter the script.
