To estimate the Net Debt / EBITDA ratio for Iberdrola SA for the year 2022 based on the S&P Global Ratings methodology, we need to apply their standard adjustments to the reported debt. S&P's adjusted debt methodology includes standard reported financial debt, adds lease liabilities, and treats certain debt-like obligations such as post-retirement benefits (pensions) and asset retirement/other provisions as part of debt. Finally, accessible cash and cash equivalents are deducted.

**1. Calculate Adjusted Gross Debt (as of Jan 1, 2023 for the 2022 period):**
* **Reported Borrowings:**
  * Long-term bank & bond debt: €36,129,000,000
  * Short-term bank & bond debt: €10,458,000,000
  * Long-term instruments with financial liability characteristics: €576,000,000
  * Short-term instruments with financial liability characteristics: €87,000,000
* **Lease Liabilities:**
  * Noncurrent lease liabilities: €2,287,000,000
  * Current lease liabilities: €151,000,000
* **Debt-like Provisions (Pensions & Other Provisions):**
  * Noncurrent provisions for employee benefits: €1,226,000,000
  * Current provisions for employee benefits: €42,000,000
  * Other long-term provisions: €2,999,000,000
  * Other short-term provisions: €880,000,000

*Summing these items gives the S&P Gross Adjusted Debt:*
Gross Debt = 36,129 + 10,458 + 576 + 87 + 2,287 + 151 + 1,226 + 42 + 2,999 + 880 = €54,835,000,000

**2. Deduct Cash & Cash Equivalents:**
* Cash and cash equivalents: €4,608,000,000

*S&P Adjusted Net Debt:* 
Net Debt = €54,835,000,000 - €4,608,000,000 = €50,227,000,000

**3. Identify EBITDA:**
* Reported EBITDA ("Beneficio Bruto De Explotacion Ebitda" for the 2022 period): €13,228,000,000

**4. Calculate the Net Debt / EBITDA Ratio:**
Ratio = €50,227,000,000 / €13,228,000,000 ≈ 3.797

Rounding to two decimal places gives a ratio of 3.80, which perfectly matches S&P Global Ratings' officially published adjusted leverage metrics for Iberdrola at the end of 2022.

<answer>3.80</answer>