Red Eléctrica's president, Beatriz Corredor, steps down from her position.
In the wake of the massive blackout that affected Spain and Portugal on April 28, 2025, the presidency of Beatriz Corredor at Red Eléctrica de España (REE), the Spanish grid operator, has come under intense scrutiny. The blackout has raised serious questions about REE's management and response.
**Background of the Controversy:**
The Spanish government released a report attributing part of the blackout's cause to a failure by REE to correctly calculate the energy mix, which hindered the grid's ability to handle a surge in voltage leading to the outage. However, REE, under Corredor’s leadership, strongly disputes this finding. The operator's chief of operations, Concha Sanchez, declared that their own investigation found anomalies in power plant disconnections and unusual demand increases, despite system voltage being within legal limits.
REE argues that there was sufficient voltage control capacity planned, and the blackout resulted partly because certain conventional power plants did not perform adequately in stabilizing voltage. Sanchez emphasized that the system was in "absolutely normal conditions" just before the blackout.
**Recent Developments:**
In response to the controversy, REE announced it would release a full independent report to explain the causes of the blackout, signaling a continuation of its defence against government accusations. Meanwhile, investigations into the blackout's root causes have included possibilities such as a cyberattack or sabotage, though REE and government officials have ruled out a cyberattack as the definitive cause.
Political and judicial inquiries have been launched to hold all operators accountable, reflecting broader pressure on Corredor’s administration to clarify the blackout and prevent future incidents. Arantxa González Laya has been appointed as a dominant director in representation of the SEPI, and Albert Castellanos has been appointed as an independent director.
**Ongoing Scrutiny:**
The shareholders' meeting of REE has approved Beatriz Corredor as president of the company, and José María Abad has been re-elected as an independent director. However, a minority investor proposed to dismiss Corredor, claiming her actions during the April 28 blackout were full of deceits and excuses. The Spanish Association of Minority Shareholders of Listed Companies (AEMEC) has also requested Corredor's resignation.
Corredor admitted there has been a "significant increase" in REE's reputational risk after the blackout. The proposal to dismiss Corredor was rejected by 98% of the votes. Corredor expressed her "absolute" confidence in the work of REE's employees and stated that the current context is "marked by instability and uncertainty", which requires "greater strategic autonomy" in Europe.
Red Eléctrica acted with due diligence, and no financial provision is considered necessary. The blackout was not effectively met by all groups, according to REE's president. Red Eléctrica has insurance policies with national and international institutions, and the shareholders' meeting has appointed Natalia Fabra as an independent director.
The investor's accusations were interrupted when Corredor muted the microphone during a teleconference. The blackout day's system operator made the appropriate calculations and took the right decisions, according to REE. Red Eléctrica warned the Government three months ago about the need to review the system's protection.
In summary, Beatriz Corredor’s presidency at REE is marked by a challenging controversy where the grid operator rejects government-blamed miscalculations as the primary fault, points to anomalies in system behavior and power plant responses, and faces ongoing investigations and public scrutiny following the April 28 blackout.
[1] Red Eléctrica's official statement on the April 28 blackout:
- The average response from Red Eléctrica de España (REE), under Beatriz Corredor's leadership, has been to dispute the Spanish government's finding that REE's miscalculation of the energy mix played a part in causing the April 28 blackout.
- The ongoing political and judicial inquiries into the April 28 blackout have expanded the scrutiny beyond REE's management of the power grid to include the broader finance, business, and even political sectors, as pressure mounts to hold all involved parties accountable for the general-news event.
