Iberdrola believes that the energy tax is limited to oil and gas companies | Economy

Ibedrola headquarters in Madrid.
Ibedrola headquarters in Madrid.

The vice president of Iberdrola Spain, Antonio Miguel Carmona, considers that the tax on energy companies announced by the Prime Minister, Pedro Sánchez, is limited only to oil and gas companies, given the reduction in profits that electricity companies have experienced in Spain. “We understand that this tax is for the oil and gas companies, which represent 75% of the energy. Quite the contrary, we have a cut in results in Spain due to the rise in gas prices and having 80% of electricity demand sold at a fixed price”, he pointed out.

“We understand that they are talking about a tax on the oil and gas companies that represent, I insist, 75% of the energy sold in Spain”, he concluded. During his speech in the Debate on the State of the Nation, Sánchez explained that the tax on “the dominant groups” of the electricity, gas and oil sectors will be in force during 2023 and 2024 and will seek to collect 2,000 million euros a year from the benefits extraordinary items of these companies in 2022 and 2023.

“There is often talk of benefits from heaven, but in reality they are not such. Surpluses do not fall from the sky, they come out of the pockets of consumers who pay the bills,” said the president, an issue denied by Carmona in the case of electricity companies.

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