Companies are society’s wealth creators. Their investments, growth performance, and purchasing power create significant economic impacts at regional, national and global levels.

However, many of these financial benefits to society are not measured or reported through traditional financial accounting.

With thousands of employees on our payroll, we generate tax revenues for public services through Pay As You Earn (PAYE) and National Insurance contributions. We also contribute to the public purse through collection of Value Added Tax from customer accounts.

In addition, we indirectly support employment through extensive use of various specialist contractors. The spend of our employees and contractors in turn supports a whole range of businesses and services. 

The purchases we make from supplier companies directly benefit another tier of businesses and employees, and generate further tax revenues for Government. 

Energy plays a critical role in national and global economies. Rising gas and electricity prices can have a profound impact on the cost base of a business and lead to price increases for other commodities and services. It influences the retail price of energy, which in turn affects the amount disposable income people have to spend on other goods and services.

Although our parent company IBERDROLA is not listed on the London Stock Exchange, it is included in the main European stock indices. Thus, many of the UK’s largest pension funds have holdings in IBERDROLA, so many thousands of people in the UK benefit from our strong financial performance through their pension fund.

Ramón Fernández Olmedo, Impact Leader