Hybrid bonds are instruments that count as equity-like in some jurisdictions, often used to bolster regulatory capital or optimize cost of capital. From the provided Iberdrola 2022/2023 data, we see detailed lines for instruments with characteristics of non-current financial liabilities and various equity components, including noncontrolling interests, treasury shares, and equity categories. However, there is no explicit listing of hybrid bond issuances (perpetual subordinated bonds with features of equity) in the given data beyond general "Instrumentos De Capital Con Caracteristicas De Pasivo Financiero No Corriente" and "Emision De Obligaciones Perpetuas Subordinada" details in certain years. The notes show substantial senior/secured and other debt (Deudas Con Entidades De Credito YObligaciones UOtros Valores Negociables Corrientes y No Corrientes) and high equity components, but the contingent presence of perpetual subordinated instruments is not clearly large in 2022-2023 data provided.

Given that Iberdrola historically uses a mix of debt and hybrid instruments, and the provided data does not indicate a strong prominence of hybrid perpetuals in 2023, it would be prudent to assume a moderate or low reliance on hybrids. Therefore, a reasonable conservative estimate would be around 25% to reflect some use of hybrid-like instruments without implying heavy dependence.

Final answer:
<answer>25%</answer>