Galán assures that the main beneficiary of the rise in electricity is the Treasury

The president of Iberdrola, Ignacio Galán, has uploaded on the Draft Law presented by Vice President Teresa Ribera to cut the so-called “windfall profits” of nuclear, hydraulic and wind power plants prior to 2005, which has caused a sharp drop in electricity in bag for an adjustment of around 1 billion euros.

Galán has assured that “We trust that the Bill recently presented in our country, which introduces unjustified charges on non-emitting technologies, will be redirected throughout its processing.”

For this reason, the manager asks the Executive to find solutions that guarantee full coherence between the energy policy that is committed to decarbonization and a stable and reliable normative and regulatory framework.

“There are many factors that affect the price of electricity but, without a doubt, the most significant is the degree of taxes, charges and fees that are imposed on it and that citizens pay to a large extent,” says Galán, who took the opportunity to applaud the statements of the vice president last Wednesday in which she opened the door to a tax review to lower the high price of electricity.

“We welcome the recent declarations by the Government in parliament about a possible reduction in taxes, charges and fees, which already account for about 60% of the bill paid by users,” says the president of Iberdrola, who recalled that “the principal The beneficiary of high electricity prices, especially in a scenario like the current one with a high price of CO2, is the Public Treasury “.

The chief executive of the largest Spanish electricity company explained that the Government not only receives large taxes proportional to the price of energy, but also income from the sale of CO2 rights, which this year could reach 2,500 million euros.

For this reason, Galán insisted that as many agents and organizations have indicated in their allegations to the draft law and also the main financial analysts and rating agencies, it is essential that the regulatory framework preserves legal security and legitimate confidence of investors.

“You can be sure that at Iberdrola we will maintain a dialogue attitude, but also our commitment to defending your interests,” said Galán.

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