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    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.

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