Want to know why Electricity is so expensive in Spain?
According to Professor of Economics, Roberto Centento, the Chairman of Iberdrola and 13 advisors enjoy illogical and unjustifiable salaries, far greater than their counterparts around the world.
Who awarded them these amazing salaries? They did, of course. It wasn’t hard to find because successive governments have increased the price of electricity by 323%.
The Chairman of Iberdrola, Ignacio Sánchez Galán, is the highest paid CEO of any energy company in the world, says professor Centento. “He earns five times more than the Chairman of German energy company, E.On.”
Just to make sure that we get the picture, he asked, “Do you know how much the Chairman of the 3rd biggest energy company in Japan gets? He earns 250,000 euros, which is 30 times less than the Iberdrola Chairman, even though the Spanish company is much smaller.”
Right, so we get the picture and now that we have your attention, would you like to know who works for Iberdrola? You guessed it; ex-politicians. Aznar’s Minister of the Interior, Angel Acebes, bless his cotton socks, for example, is an advisor. Sr. Acebes receives almost a million euros per annum for two hours attendance a month, the same as ex PP leader, Fernando Becker who sits on the board as Director of Corporative Resources.
Most of the rest are bankers in their 70’s, that ran savings banks in Valencia, Castellón, Madrid and Castilla-Leon – and we all know that the country’s savings banks were run as piggy banks for political parties, who bled them dry, so that they could finally be bailed out with public money.
But they’re all in on it: Felipe González is raking it in at Gas Natural, ex-Zapatero Finance Minister, Pedro Solbes, is wallowing in money at Enel, Aznar, himself is snuggled into the bucks so deeply at Endesa that he needs a snorkel to breath. Another socialist, ex-Finance Minister, Elena Salgado is splashing around at an Endesa affiliate in Chile.
Here’s another angle: according to an Austrian industrialist with factories in Munich, Hungary and Poland, the price of kilowatt/hours that he pays in his holiday home in Valencia is double what he pays for his home in Vienna – Spain’s is the most expensive in Europe.
The problem is, not only has the Spanish political class completely infiltrated the judicial body, dominating the top judicial organs, but it is in complete cahoots with the energy sector.
Professor Roberto Centento expressed his opinion in the following manner: “You have to be a complete scoundrel or be completely in the pay of the Financial mafia and Oligopolists,” adding, “This systematic plundering of Spanish society by a corrupt political-oligarchy system with its solid base of shared interests with the financial elite makes an exit from the crisis unviable.”
Yes, he’s not happy with the boys at Iberdrola, in fact he is calling for the incarceration of the Chairman and his 13 advisors. Don’t hold your breath on that one, Folks!
(News: Spain)