Naturgy chairman calls Spain's energy plan obsolete

Francisco Reynés, executive chairman of Naturgy, has declared Spain’s National Integrated Energy and Climate Plan (PNIEC) obsolete. Speaking at the XI Energy Forum, Reynés argued that the plan fails to account for the rapid evolution of the international energy landscape and the recent shifts in the sector.

Reynés emphasized that the energy transition must move beyond merely setting ambitious targets to focusing on practical implementation and tracking. He identified several critical challenges for the sector, including the need for regulatory stability to attract long-term investment, the simplification of administrative procedures—noting that permitting processes act as a significant bottleneck—and the effective management of increasing renewable energy penetration.

While highlighting Spain’s competitive advantages in wind, solar, and water resources, Reynés called for more incentivizing and stable regulatory frameworks to ensure capital continues to flow into the country’s energy infrastructure.