Tariffs caused Iberdrola's exit, they say

On Tuesday, the Spanish newspaper El Confidencial reported that Iberdrola has hired Barclays to sell 15 renewable energy plants in Mexico, valued at approximately $4.7 billion. Credit: AFP

Iberdrola's withdrawal from Mexico to focus its business on the United States could be due to the uncertainty caused by tariffs and the exchange rate, as the companies to which it sells energy are not making long-term contracts, according to Eddy González Altamirano, a wholesale electricity market specialist at Eleia.