Three lessons from the electricity crisis



The electricity price crisis is leaving unforgettable lessons. I take note of three of them. First: the renewed relationship of the Prime Minister with taxation. There was a time when Pedro Sánchez spoke in a reproachful tone about the inability of the Spanish economy to cover the gap in tax collection with the European average. Those famous six points of GDP intensively and repeatedly occupied his political discourse. He seemed ready to do anything crazy to cover her. One of the most surprising things about the rise in the electricity bill is the speed with which Sánchez has forgotten about this gap and has started to dismantle the energy taxation that supposes the

half the price we paid. It is doing this in two ways: reducing taxes and dedicating more public resources from the carbon market to lower the burdens of the system. This shows that when you want, you can, as Díaz Ayuso says.

Second lesson: Podemos has discovered the benefits of nuclear energy. It is cheap and provides resilience to the electrical system and does not emit C02 into the environment. Until now, the purple training only focused on the risks – which exist and are important – but not on the advantages. Risks that Spain assumes by default since it is next to the largest nuclear generator in Europe: France and its 56 active reactors. Perhaps this immersion in the economic reality will also change his consideration towards hydraulic energy and “the old Francoist model of swamps and pharaonic works that have sunk and forced to abandon so many towns.” Thanks to these swamps, Spain has three times more installed hydraulic generation capacity than Germany and slightly exceeds that of Sweden, a country that produces more than half of its electricity through this medium.

Third lesson: German hypocrisy that despite its green speech and intense anti-nuclear propaganda, projecting its example to all other European countries, continues to use coal – and not the most expensive and volatile natural gas – to produce its electricity. Between 30% and 40% of its current generation comes from coal. This represents 75% of its emissions.

Spain, on the other hand, has decided to enthusiastically embrace German idealism (and not its realism) and dismantle the ground on which it leans before learning to fly: a decade ago, Spain had 14 coal-fired power plants, now only one remains fully operational as reported by this newspaper in March. The rest are being dismantled, a costly and job-destroying process. In five years, Endesa, for example, must invest around 5,000 million in this process: more than 250 million in dismantling them and more than 4,500 million to create renewable plants to replace them. [email protected]

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