Post by account_disabled on Mar 7, 2024 1:59:38 GMT -5
The third vice president and minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, appeared yesterday at her own request in the Congress of Deputies to explain, among other matters, the increase in the price of electricity. A transcendental issue that keeps hundreds of thousands of Spanish families in suspense, who watch with concern an escalation that continues to break records. In fact, according to the data from the latest auction, this Tuesday will add another new high , since the average price in the wholesale market will reach euros per megawatt hour (MWh). During his appearance, Ribera highlighted the supposed need to “review energy taxation . However, the Government has already approved the reduction of VAT on electricity from 21% to 10% until the end of 2021 , which will not prevent August from closing with the most expensive bill in history. The tax reduction has not been effective in stopping the rise in the price of electricity From the Technicians of the Ministry of Finance (GESTHA) we have been insisting that the tax reduction has not been effective in stopping the escalation in the price of electricity.
At the time, we calculated that, with the reduction of VAT to the reduced rate, a reduction of around 1,700 million could be achieved for households on an annual basis, although we warned that it was not guaranteed that this reduction in VAT would not be compensated with new increases in the price of a kilowatt. From our point of view, the reductions in these two taxes can be classified as “a temporary Australia Phone Number relief measure for consumers”, but we consider it necessary to adopt other solutions to this pressing problem. In any case, it is worth highlighting that tax collection on energy , excluding transport fuel taxes, presents a differential of 0.26 percentage points of GDP with respect to the European average, where Spain occupies the 25th position in the ranking of the environmental taxes , only ahead of Ireland and Luxembourg. Regarding the energy collection ranking, we advanced one place, to 24th place, ahead of Ireland, Malta and Austria. And regarding tax collection on Energy, excluding transport fuel taxes, Spain occupies position 20 ahead of Malta, Austria, Portugal, Hungary, Ireland, Luxembourg and Lithuania. In short, compared to the European.
Average, our country has a revenue deficit in this component of about billion euros. Be that as it may, it is very evident that the marginalist system of energy pricing is not efficient for Spain at this time, since energy production from renewable sources is being paid for well above the cost of producing it (the “lost profits”). from the sky"), without an immediate increase in the production of this type of energy being possible. Therefore, we propose that a “conjunctural change” in the pricing rules be urged , delving into the announced line of stopping the over-remuneration of nuclear and hydroelectric plants, or, otherwise, demanding a tax surcharge from large companies. electricity on said extraordinary benefits. Secondly, we suggest that futures operations on CO2 emission rights be temporarily suspended, just as the ESMA and the CNMV suspended short operations against the shares of the capital stock of strategic companies in our country in the previous crisis. financial. And finally, we recommend an exhaustive examination of the electricity market by the CNMC, as well as promoting small renewable energy installations , mainly for self-consumption by companies, individuals and small population centers.
At the time, we calculated that, with the reduction of VAT to the reduced rate, a reduction of around 1,700 million could be achieved for households on an annual basis, although we warned that it was not guaranteed that this reduction in VAT would not be compensated with new increases in the price of a kilowatt. From our point of view, the reductions in these two taxes can be classified as “a temporary Australia Phone Number relief measure for consumers”, but we consider it necessary to adopt other solutions to this pressing problem. In any case, it is worth highlighting that tax collection on energy , excluding transport fuel taxes, presents a differential of 0.26 percentage points of GDP with respect to the European average, where Spain occupies the 25th position in the ranking of the environmental taxes , only ahead of Ireland and Luxembourg. Regarding the energy collection ranking, we advanced one place, to 24th place, ahead of Ireland, Malta and Austria. And regarding tax collection on Energy, excluding transport fuel taxes, Spain occupies position 20 ahead of Malta, Austria, Portugal, Hungary, Ireland, Luxembourg and Lithuania. In short, compared to the European.
Average, our country has a revenue deficit in this component of about billion euros. Be that as it may, it is very evident that the marginalist system of energy pricing is not efficient for Spain at this time, since energy production from renewable sources is being paid for well above the cost of producing it (the “lost profits”). from the sky"), without an immediate increase in the production of this type of energy being possible. Therefore, we propose that a “conjunctural change” in the pricing rules be urged , delving into the announced line of stopping the over-remuneration of nuclear and hydroelectric plants, or, otherwise, demanding a tax surcharge from large companies. electricity on said extraordinary benefits. Secondly, we suggest that futures operations on CO2 emission rights be temporarily suspended, just as the ESMA and the CNMV suspended short operations against the shares of the capital stock of strategic companies in our country in the previous crisis. financial. And finally, we recommend an exhaustive examination of the electricity market by the CNMC, as well as promoting small renewable energy installations , mainly for self-consumption by companies, individuals and small population centers.