Ribera raises tax incentives to boost the energy transition | Economy

Ribera raises tax incentives to boost the energy transition | Economy



The Minister of Ecological Transition, Teresa Ribera, has indicated on Tuesday that it is studying fiscal aid for those groups that promote the energy transition, including vulnerable groups.

Ribera has detailed that his Department works together with the Ministry of Finance to adopt a reduced VAT aimed at "according to consumers". In addition, another "pleiad of taxes", he added. The Minister for the Ecological Transition, Teresa Ribera, said yesterday that her cabinet studies with the Treasury the possibility of adopting a reduced VAT for electricity directed to the receipt of "according to what types of consumers," according to the Senate. Ministerial sources clarified that it was a misunderstanding, since the VAT can not differentiate different types of consumers. Actually the minister referred to tax incentives for the groups that drive the energy transition. That is to say, tax subsidies are studied for self-consumption producers or renewable investors. For this, he added, Ribera, a working group has been created with the Ministry of Finance.

The minister has warned that short-term measures are not enough to end the increases in electricity bills. The temporary provisions adopted by the Government in October, as the suspension of the 7% tax on electricity generation for six months or the exemption of the "green cent" for the generation of gas, have meant a reduction of between 8 and 16% of the average price of the wholesale market Of electricity. "A different question," added Ribera, is reflected in the consumer's bill, which has been "one euro up or one euro down". The clients that receive the tariff regulated by the Government (PVCP) have noticed a decrease of around 4%. To improve this situation and make invoices "more predictable and stable", structural actions are necessary.

For this he defended a system based on renewables. Last week a record wind production was achieved in Spain, which led to the lowest price even in the Nordic countries, with a strong introduction of this type of energy. On the other hand, he pointed out that the Government is studying the start of the recovery of hydroelectric concessions, according to their expiration date, to benefit local communities, "underlining that important public function that water jumps must play," he said.

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