Carmona confirms that Sánchez’s energy company tax will end with consumers paying for gas

Antonio Miguel Carmonavice-president of Iberdrola, confirmed that the tax on energy companies by Sánchez will end up in the payment of gas for consumers. Carmona considers that this new tax announced by the President of the Government, Pedro Sánchez, is limited to oil and gas companies only, given the reduction in profits that electricity companies have suffered in Spain. And, since oil and gas companies obviously assign their costs to their respective revenues, the final payer will, again, be the consumer.

“We understand that this tax concerns oil and gas companies which represent 75% of energy. On the contrary, we have a drop in results in Spain due to the increase in gas prices and the sale of 80% of the demand for electricity. at a fixed price,” Carmona pointed out. “And we understand, then, that they are talking about a tax on the oil and gas companies which represent, I insist, 75% of the energy sold in Spain,” he added.

During his speech at the State of the Nation DebateSanchez explained that the tax on “dominant groups” in the electricity, gas and oil sectors It will be in force in 2023 and 2024 and will seek to collect 2,000 million euros per year from the extraordinary profits of these companies in 2022 and 2023.

“We often talk about profits from the sky, but in reality they are not. Surpluses do not fall from the sky, they come out of the pockets of consumers who pay the bills,” said the president, a question denied by Carmona in the case of electric

We must remember, as published by Libertad DigitalaI, that Pedro Sánchez’s new electricity company tax has already begun to be defined. Wanna extract 2,000 million more in two years from the companies concerned. It will not be, in fact, only a tax on the electricity companies: it will be on all the energy companies. The main electricity companies have seen their profits fall in Spain over the past year. With which, ultimately, the tax will mainly go to other energy sources, notably gas. Yes gas supplements are billed on two receipts: in that of the same gas for heating by pure fixing of the price, and in that of electricity, for the payment made by consumers through compensations to the gas companies for the fixing of the official ceiling of the price of the gas used in power stations.

The government knows perfectly the figures of the Spanish electricity companies. But he hides from public opinion in order to put in place a demagogic measure which he knows consumers will eventually pay for. The flagship of the Spanish electricity companies is Iberdrola. And it’s true that its consolidated comprehensive income is progressing, but not because of Spain: the part of Iberdrola’s results that pays taxes in Spain not only did not make extraordinary profits in the last financial year, but also, due to the economic crisis in Spain — significantly higher than that of the rest of the large savings — it was reduced by 29%.

The international sum of results increases by 3%, but it does so due to US Avangrid’s 33% lead and for the 20% increase in Brazilian Neoenergia. In fact, the United States and Brazil jointly contribute 64% of the global company’s investments.

The new tax of Pedro Sánchez, according to his words, will fall on the extraordinary results due to the increase in prices. And this has not happened to Iberdrola Spain or to the electricity sector in Spain.

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