Overview
- IETI, led by McKinsey with partners including ACS, EDP, Galp, Iberdrola, Moeve, Naturgy, Repsol and Técnicas Reunidas, unveiled an updated outlook at the World Economic Forum in Davos.
- The plan prioritizes coordination in strategic sectors, competitiveness-focused regulation with tools such as contracts for difference and single-window permitting, rapid grid and storage rollout, higher R&D, and workforce reskilling.
- IETI underscores a roughly 20% renewable energy cost advantage for Spain and Portugal, noting growing investment announcements and new power capacity additions.
- The index highlights progress including Portugal at about 35% renewables in its mix, electric vehicles at 40% of sales in Portugal, and Spanish energy prices about 27% below the EU average, with post-FID projects doubling in Spain and rising fivefold in Portugal.
- Industry leaders flagged acute distribution network congestion in Spain—where most connection requests are being rejected—and urged faster permitting, revised grid remuneration and cross-border infrastructure to convert momentum into durable competitiveness and energy security for Europe.