Over the next four years, we will keep the same strategy as in our previous plan to face the energy transition and we will opt for all energies that meet our customers' needs. We are convinced that this approximation, in which decarbonization is an attractive opportunity to create value, to grow, and be profitable, is the most suitable for us.

Josu Jon Imaz - CEO

Our plan

We increase the cash dividend for shareholders by allocating up to 10 billion euros to remunerate shareholders over the next four years. The increase in remuneration is supported by strong operating cash flow generation.

This strategic update sets an investment of between 16 and 19 billion euros net in four years, allocating more than 35% to low-carbon initiatives. 

We consolidate ourselves as a multi-energy company, leader on the Iberian Peninsula with more than 24 million customers, offering a global energy solution.


Amount allocated to remunerating shareholders


Net investments over the Strategic Update horizon


Planned investments for low-carbon initiatives


Operating cash flow in the period 2024-2027


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