To estimate the FFO (Funds From Operations) to Net Debt ratio for Iberdrola for the 2022 fiscal year (period 2022-01-01 to 2023-01-01), we follow the standard S&P Global Ratings methodology:

**1. Calculate FFO (Funds From Operations):**
S&P generally calculates FFO by taking the "Cash Flows From Used In Operating Activities" and adjusting for changes in working capital. 
*   Cash Flows From Used In Operating Activities: 10,443,000,000 EUR
*   Adjustments for Working Capital:
    *   Adjustments For Decrease Increase In Trade And Other Receivables: -1,701,000,000
    *   Adjustments For Decrease Increase In Inventories: 521,000,000
    *   Adjustments For Increase Decrease In Trade And Other Payables: 44,000,000
    *   Net change in working capital = -1,701,000,000 + 521,000,000 + 44,000,000 = -1,136,000,000
*   FFO = Operating Cash Flow - Change in working capital
*   FFO = 10,443,000,000 - (-1,136,000,000) = 11,579,000,000 EUR

**2. Calculate Net Debt:**
S&P defines Net Debt as total financial debt (current and noncurrent) minus cash and cash equivalents.
*   Noncurrent Financial Liabilities: 44,216,000,000
*   Current Financial Liabilities: 25,079,000,000
*   Total Financial Debt = 69,295,000,000
*   Cash and Cash Equivalents: 4,608,000,000
*   Net Debt = 69,295,000,000 - 4,608,000,000 = 64,687,000,000 EUR

**3. FFO / Net Debt Ratio:**
*   Ratio = FFO / Net Debt
*   Ratio = 11,579,000,000 / 64,687,000,000 ≈ 0.17899

Converting to a percentage, the ratio is approximately 17.90%.

<answer>0.17899</answer>