(Alliance News) - Iberdrola SA on Monday it has formed an alliance with Vodafone Group PLC's Spanish unit to jointly market integrated energy and telecommunications services in Spain, a partnership the companies say could reach up to 16 million customers.

Iberdrola, a Bilbao, Spain-based electric company, will supply 100% renewable electricity while Berkshire, England-based telecommunications provider Vodafone will provide fibre and mobile connectivity, creating bundled household offers aimed at savings and simplicity.

"Iberdrola Espana and Vodafone Espana are joining forces to deliver a clear and tangible benefit for customers. Through this partnership, we aim to help millions of households enjoy the best connectivity at home and on the move, powered by emission-free energy and offered at a highly competitive price," said Mario Ruiz-Tagle, Chief Executive Officer of Iberdrola Spain.

The agreement includes two?year financial incentives. Vodafone customers who sign up for Iberdrola power will receive EUR10 off their telecommunications bill each month, while Iberdrola customers who take Vodafone fibre and mobile services will receive EUR10 monthly credits in their Mi Iberdrola account, usable against energy bills or other company services.

Vodafone Spain CEO Jose Miguel Garcia added: "By bringing together the strengths of two leading companies, we are making it easier for more than 16 million households in Spain to access top-quality telecommunications services and competitively priced energy. We also see this as the first step in a partnership that we hope to expand through new joint customer propositions in the future."

Iberdrola said the alliance supports its strategy of expanding customer?focused solutions that combine electrification, renewable energy and value?added services.

Iberdrola shares closed down 0.4% at EUR19.77 in Madrid on Monday while Vodafone shares ended 1.0% higher at 111.45 pence in London.

By Judy Amaca, Alliance News reporter Asia-Pacific

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