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HomeLatest NewsRibera defends the new energy tax after criticism from Iberdrola

Ribera defends the new energy tax after criticism from Iberdrola

Date: March 27, 2023 Time: 14:19:39

The third vice president and minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, has defended the tax on energy companies as a “temporary, limited and adequate” measure, after Iberdrola has labeled this tax as “arbitrary and discriminatory”.

In an event organized by the Nueva Economía Forum, the vice president explained that in a context of “disproportionate increase” in electricity prices, it is necessary to adopt “balanced” responses that involve those who, like the energy company, are recording higher profits.

Above all, Ribera believes that this “collective effort” is necessary, taking into account the impact that this increase in the electricity bill has had on the economy as a whole. For this reason, the minister considers it necessary to bet on measures not only within the framework of the General State Budget (PGE), but also through taxes or other regulatory instruments.

After scoring results of 4,339 million euros in 2022, Iberdrola reported that it will have to pay some 200 million euros for the new tax approved last year. The company chaired by Ignacio Sánchez Galán emphasized that it has already appealed the lien to the courts and stressed that it “hopes to win” the legal battle.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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