New tax on energy producers approved to cut “tariff deficit”
Across-the-board levy is six percent of revenues
The government on Friday proposed a new tax on the production of energy, the proceeds of which will be used to cover the so-called tariff deficit, the difference between the cost of generating power and the regulated price consumers pay for it.
Industry, Energy and Tourism Minister José Manuel Soria explained that the new across-the-board levy of six percent on the revenues of producers replaces a previously polemical proposal under which tax rates would have been higher for renewable energy generators.
The government also plans to impose a duty of 0.279 euros per cubic meter on natural gas, and another special levy of 14.97 euros per metric tons on energy produced from coal.
The new measures are expected to generate about three billion euros annually. The deficit tariff currently stands at around 24 billion euros.
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