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To counter soaring electricity prices, Spain is puncturing suppliers

2021-09-16T14:42:09.168Z

STORY - The Spanish government is committed to reducing household bills. Madrid The objectives are ambitious, the method has yet to prove itself. The left-wing government of Pedro Sanchez approved on Tuesday a series of measures that should lead electricity companies to return by March 2022 some 2.6 billion euros in extraordinary profits caused by the sharp increases in gas prices on the international markets. See also Spain, Europe's new sick man This grab, combine



Madrid

The objectives are ambitious, the method has yet to prove itself.

The left-wing government of Pedro Sanchez approved on Tuesday a series of measures that should lead electricity companies to return by March 2022 some 2.6 billion euros in extraordinary profits caused by the sharp increases in gas prices on the international markets.

See also

Spain, Europe's new sick man

This grab, combined with seven other measures, should reduce the average consumer bill by 22%, a decrease that would even reach 30% if we add the tax cuts already decided in June.

It is for the executive to face an unprecedented increase in prices in a country very dependent on its imports of Algerian gas.

The average monthly bill of a Spanish family is estimated at 108 euros by the consumer organization Facua, an increase of 62% in one year.

Excessive profits

The most spectacular measure, the most contested by companies, is called

"temporary reduction in excess.

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Source: lefigaro

All news articles on 2021-09-16

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