Sunday, November 27 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Nov 21
Week of Nov 14
Week of Nov 07
Week of Oct 31
Week of Oct 24
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Minister Montero considers it necessary to tax the "scandalous" profits of electricity companies

    June 24, 2022 - CE Noticias Financieras


      "It is necessary to tax electric companies and that they contribute more to the collection," said the minister in an intervention in the program 'Más Vale Tarde', collected by Europa Press. Montero considers that these companies are obtaining "substantial profits" and that sometimes they are even "scandalous". On Monday, the second vice-president and Minister of Labor and Social Economy, Yolanda Diaz, proposed to raise the corporate tax rate by 10 points to "large energy companies" with the aim of raising revenue by between 1,500 and 2,000 million euros.

      With regard to the support measures to try to contain the prices of electricity and fuels, Montero has indicated that the situation of stress is taking longer than expected, for which reason the Government believes it is convenient to "continue accompanying families". On the other hand, the Minister of Territorial Policy and Spokesperson of the Government, Isabel Rodríguez, also assured yesterday, on whether there is already a decision to impose a tax on electricity companies, that "the decision has been taken" and "communicated" and she has demanded an effort from the energy companies, alleging that "there is no citizen who understands" the "exorbitant" prices they are having when the others are making an effort.

      Iberdrola, for example, announced last Friday the "highest dividend in the history of the group: a dividend will be paid for 2021 of 0.44 euros gross per share, to which must be added an 'engagement dividend' of 0.005 euros gross per share". The company posted a net profit of E3,855 million in 2021, up 8% compared to 2020. The price of electricity on the wholesale market today stands at 149.86 euros per megawatt hour, which represents an increase of 66.7% compared to the price recorded on the wholesale market exactly one year ago, on June 23, 2021. On that day, the price was set at 89.88 euros.


    Other Articles - Financial


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.