To the Board of Directors of Red Eléctrica Corporación, S.A.: We have verified, with reasonable assurance, the design and effective implementation of the Internal Control System for Financial Reporting (hereinafter "ICFR") described in the attached document of Red Eléctrica Corporación, S.A. and subsidiaries (hereinafter the "Red Eléctrica Group") for the year ended 31 December 2013.