Ribera points to extraordinary taxes on energy in the Budgets

A customer refuels at a service station. / RC

The Minister for the Ecological Transition advocates maintaining the fuel discount, given the complexity of segmenting it by groups or income level

Jose Maria Waiter

The Vice President and Minister for the Ecological Transition, Teresa Ribera, has admitted the possibility of applying a "special and additional taxation" to both electricity and oil companies depending on the "need" that the State has in the face of the continued increase in prices. of fuels and maintenance of the cost of volatile electricity during the coming months.

With these statements, Ribera has pointed to this new reality after several cabinet colleagues, such as Vice President Yolanda Díaz, have opted to increase taxes on energy companies. Ribera has clarified, in any case, that these measures would have to materialize "in the budget legislation", as she has expressed in an interview on TVE. “Each thing in its own time, and always with well-considered and worked-out measures” with the Ministries of Finance and Economy, those in charge of the public accounts for 2023, which are already being prepared.

For now, Ribera has limited himself to recalling that as of today the cost of electricity has a new limitation as the price of gas with which electricity is produced in combined cycles is capped. This limitation is at 40 euros/MWh, as authorized by the European Commission for the so-called 'Iberian exceptionality', compared to the almost 80 euros/MWh that gas costs in the daily market. This measure "will protect us for a few months that complexes are still visible", the minister has indicated. "If not, we would have to see enormously high prices" especially with the heat spikes that much of Spain is suffering these days, or already facing winter with cold waves.

Teresa Ribera calculates that the average reduction in an invoice of 100 euros will go to 85 euros when the electricity companies begin to invoice in the new terms established by law. In addition, she has recalled that the electricity companies that sell electricity above 67 euros / MWh have seen their profits limited for several months, to prevent prices from skyrocketing in the free or regulated market.

On the other hand, the head of Ecological Transition has clarified that "in a few days" the new package of anti-crisis measures will be known, which expires on June 30, and whose main doubt lies around the bonus of 20 euro cents per liter refueled. Ribera has recognized that the Government is studying "adequate ways to specify" the beneficiaries. That is, adjust the aid by social groups or by family income. Although she has also admitted that if this system "is not effective, easy and fast", the Executive's intention is to "continue with the current system" of help for all drivers.

Meanwhile, the price of fuel continues to climb after oil has not dropped below 120 dollars per barrel of Brent. In this sense, the minister has indicated that price increases at gas stations "is a matter to be monitored very seriously" and that the National Competition Commission (CNMC) "has to remain vigilant in case there are bad practices", although it has indicated that the prices of energy raw materials are "skyrocketing" throughout the world.

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