Iberdrola SA (IBE), which is the Spanish private multinational electric utility company, has announced that they have been able to reduce their debt by 20% and will continue in doing so. Iberdrola SA, which is also considered to be the largest utility in Spain, said that they have strategies ready to ensure that they are able to increase their dividend with progression in time.

While talking about new strategies, the company officials were of the view that they will be making cuts and will also try hard to increase their foreign profit. Not only this, they have also decided that they will oppose a government plan, which is in regard to nuclear energy.

On the other hand, Prime Minister Mariano Rajoy will make sure that they win the battle which is going on between them and the energy companies. He wants to procure more money from the companies, so that he can avoid a second bailout.

It seems that it would not be too easy for the government to levy a new tax on energy companies. Iberdrola SA was of the view that they would not mind to file a legal case against the government, if they find that it has been planning to levy a new tax on hydropower and atomic energy related companies.