Iberdrola calculates that this yr it’s going to pay round 200 million euros because of the tax established by the Government with which the gross sales of power corporations with earnings of greater than 1,000 million euros per yr are taxed, which has already appealed for violating European legislation, as indicated by the corporate within the presentation of its outcomes for the yr 2022.
However, the corporate chaired by Ignacio Sánchez Galán has emphasised that it has already appealed this lien to the courts and has confused that it “hopes to win” this authorized battle.
“We have appealed these arbitrary and discriminatory measures that solely have an effect on some sectors (power and banking), sectors that aren’t in a comparable state of affairs. The measure has an influence on earnings and never on extraordinary advantages. We think about that this tax violates the Constitution Union and European Law and we don’t anticipate that this yr there will likely be a choice by the courts, most likely subsequent yr”, indicated the director of the corporate’s authorized companies, Gerardo Codes.
In this line, the corporate has highlighted that its contribution to the general public Treasury in Spain this yr rises to 2,600 million euros, with which, in keeping with its information, “it turns into one of many three largest taxpayers” within the nation .
On the opposite hand, the power firm has indicated that in 2023 it’s going to make investments round 11,000 million euros and likewise that it’ll enhance its renewable power capability by round 3,000 megawatts (MW), on the identical time that it has indicated that it foresees a larger manufacturing of hydroelectric power. and wind energy in Spain for the “normalization of the useful resource”.
This funding quantity is in step with that made in 2022, when it reached 10,730 million euros.
Regarding the proposal for the reform of the power market that’s being debated within the European Union (EU), the corporate has confused that it “agrees” that this dialogue serves to “proceed bettering”. However, he confused that, in his opinion, this market was “working effectively”.
19% much less revenue in Spain
Despite the truth that the group’s income elevated by 12% in 2022 to 4,339 million euros, the electrical firm ensures that its revenue in Spain has fallen by 19%. The purpose? “The excessive prices of the fuel disaster, the excessive costs of which we now have not handed on to clients, in addition to the low water sources and regulatory interventions,” replied the president.
The firm has not given many extra particulars about its leads to our nation, the place the electrical energy gross sales margin elevated significantly by 20.2%. It is the second nation the place it has elevated essentially the most, solely behind Brazil the place the gross margin elevated by 25.7%.
European funds
The firm has additionally referred to the EU measures to counteract the US Inflation Reduction Act (IRA), endowed with a bundle of 369,000 million {dollars} in inexperienced subsidies and which, in keeping with totally different analysts, symbolize a menace of ‘leakage’ of investments earmarked for the power transition in Europe.
On this, Galán has opined that the measures which might be being adopted within the EU are “applicable” and has argued that earlier than the creation of the IRA Law, round 40% of the Next Generation funds devoted to the power transition.
“The challenge is how we will do to hurry up the execution of those funds. Measures to scale back permits, make clear the difficulty of inexperienced hydrogen manufacturing, promote interconnections or to unify laws. Things are being completed effectively and within the subsequent weeks or months issues will proceed to enhance,” he added.