Corporate Governance SP Energy Networks operates as part of the ScottishPower Group in the UK and as part of the Iberdrola Group world-wide. As such, we maintain a continuously updated Corporate Governance System, which you can learn more about here. Corporate Governance System Scottish Power Energy Networks Holdings Limited, as head of business companies of the Iberdrola Group that engages in the activities of transmission and distribution of electricity, holds the corresponding executive responsibilities, taking charge of the day-to-day management and effective administration of the business, as well as its ordinary control, through its Board of Directors and its management bodies. In discharging these responsibilities and in the exercise of its decision-making powers, Scottish Power Energy Networks Holdings Limited has approved its own bylaws and internal corporate governance rules, and its competent bodies have adopted the corporate policies and other internal codes and procedures that make up the corporate governance system of IBERDROLA, S.A., as well as the specific rules or regulations to implement or supplement it. IBERDROLA S.A. constantly updates its corporate governance system, which is made up of the bylaws, the corporate policies, the internal corporate governance rules and the other internal codes and procedures approved by its competent bodies. In drawing up this system, good governance recommendations generally recognised in the international markets have been taken into account.