A repentant Iglesias shook his head and smiled after having a goal disallowed in the 77th minute when a long check determined an offside violation had occurred.
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His frustration grew when Ramón Terrats pulled the ball back for fellow substitute Tyrhys Dolan to score what he thought was the winning goal for Espanyol in the 86th minute.
But Iglesias equalized in the third minute of stoppage time when Pablo Durán assisted him with a backheel after a good run by Sergio Carreira.
“I think we are doing many things right,” said Iglesias, who considered that he should have been awarded a penalty for the goal he had disallowed.
Celta’s Ferrán Jutglà broke the deadlock in the 38th after receiving an assist from right-back Javi Rueda, and Espanyol goalkeeper Marko Dmitrovic made a great save to frustrate Carreira after the break.
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Espanyol coach Manolo González made a triple change to revitalize the home team, and it paid off when substitute Kike García equalized with a brilliant shot inside the post.
Terrats and Dolan thought they had engineered a memorable comeback only for Iglesias to have the last word.
Espanyol remained sixth and Celta, one point away, seventh.
Real Madrid host Real Sociedad later and are aiming for an eighth straight league win to put pressure on Barcelona ahead of the leaders’ game in Girona on Monday.
After 23 rounds, Barcelona leads Madrid by one point.
Also on Saturday, fourth-place Villarreal plays mid-table Getafe, and Sevilla takes on Alavés in a duel between two fighters.
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AP Soccer: https://apnews.com/hub/soccer