To estimate the Net Debt / EBITDA ratio for Iberdrola for 2022 based on the S&P methodology, I need to calculate **Net Debt** and **EBITDA**, then divide.

**1. EBITDA**
From the data:
- "Beneficio Bruto De Explotacion Ebitda" for 2022-01-01 to 2023-01-01 (fiscal year 2022): 13,228,000,000 EUR.
- This is the reported EBITDA.

**2. Net Debt (S&P Methodology)**
S&P’s net debt calculation typically adjusts for certain items like operating leases, pensions, derivatives, and other obligations. However, given the limited data, I will use a simplified S&P approach: 
Net Debt = Total Debt - Cash + Adjustments.

- **Cash and Cash Equivalents**: 4,608,000,000 EUR (2023-01-01).
- **Total Debt**: Sum of short-term and long-term financial debt.
  - "Deudas Con Entidades De Credito YObligaciones UOtros Valores Negociables" (non-current): 36,129,000,000 EUR.
  - "Deudas Con Entidades De Credito YObligaciones UOtros Valores Negociables Corrientes" (current): 10,458,000,000 EUR.
  - Total on-balance-sheet financial debt = 36,129 + 10,458 = 46,587,000,000 EUR.
- **Lease Liabilities**: S&P typically includes operating leases.
  - Non-current lease liabilities: 2,287,000,000 EUR.
  - Current lease liabilities: 151,000,000 EUR.
  - Total leases = 2,438,000,000 EUR.
- **Other Debt-like Items**:
  - "Instrumentos De Capital Con Caracteristicas De Pasivo Financiero" (non-current + current): 576 + 87 = 663,000,000 EUR. (These are perpetual subordinated securities, often treated as 50% debt/50% equity by S&P. I’ll include at full debt for a conservative simple estimate.)
  - "Noncurrent Derivative Financial Liabilities": 3,690,000,000 EUR and "Current Derivative Financial Liabilities": 3,398,000,000 EUR. (Derivatives netted against assets might be adjusted, but here I include them as debt.)
  - "Other Noncurrent Financial Liabilities": 1,534,000,000 EUR and "Other Current Financial Liabilities": 5,058,000,000 EUR. (Often includes payables, deposits, etc., which S&P may partially include. I’ll include all for conservatism.)

**Summing Debt-like items**:
- Financial debt: 46,587
- Leases: 2,438
- Perpetual securities: 663
- Derivatives (liabilities): 3,690 + 3,398 = 7,088
- Other financial liabilities: 1,534 + 5,058 = 6,592
- **Gross Debt** = 46,587 + 2,438 + 663 + 7,088 + 6,592 = 63,368,000,000 EUR.

**Net Debt** = Gross Debt - Cash = 63,368 - 4,608 = 58,760,000,000 EUR.

**3. Net Debt / EBITDA**:
58,760 / 13,228 = 4.442.

**Final ratio**: approximately 4.44.

<answer>4.44</answer>