Updated on Wednesday, September 29, 2021 – 15:06
The vice president responds to the warnings of groups such as Iberdrola or Endesa that they will raise the price of their large clients and Yolanda Daz charges against the sector: “Their profits are rude”
The vice president of Ecological Transition, Teresa Ribera, in Congress.
The Government has reacted strongly against the letters and calls that electricity companies such as Iberdrola or Endesa have begun to make to warn their large clients that they will have to pass on the impact of the approved regulatory hack on the income of their nuclear and hydroelectric plants.
The vice president of Ecological Transition, Teresa Ribera, considers that these warnings “are not justified” and has indicated its concern about the possible increase in the invoice of large industry due to the effect it would have on the recovery of the economy. “It is probable that the tariff revision had been raised even before the adoption of these measures,” he pointed out during his appearance at the government control session in Congress. The electricity companies deny the largest and, in the letter advanced by EL MUNDO, they link the extra cost with the impact of the Royal Decree-Law that includes the measures.
“We want to understand what they are doing and why, because we think that this announcement is not justified. And if there is some kind of problem, it cannot be something that harms industrialists, or domestic consumers, or obviously to consumers. workers, “he asserted.
Iberdrola began last week to call its large clients to inform them of the need to renegotiate their contracts upwards. One day later, Endesa -the other large electricity company affected by the cut- recognized that a similar situation arose to avoid the bankruptcy in which the regulatory change leaves a large part of its facilities.
Ribera has justified his measures and has even pointed to the benefits that, according to his accounts, the large electric companies are obtaining due to the upward effect that gas has on the price of electricity. The vice president alleges that some facilities do not have to face this cost and, however, are charging more as it is a marginalist market in which all the megawatt hours produced are paid at the same price, whatever their origin. The companies respond that the energy from these plants is already sold at a fixed price much lower than that set by the market, which is why the cut in income leads them to losses.
For her part, the Second Vice President and Minister of Labor, Yolanda Daz, has defined, to questions of the PP, what it considers “rude” business benefits: those that occur when “there is a great gulf between production costs and the benefits of these companies,” reports ..
“We are also talking about gross profits when four large companies concentrate their profits and there are many families who cannot afford or have difficulties to pay the electricity bill,” he pointed out.
Citing Eurostat data, the Minister of Labor has denounced that the profits on sales of Spanish electricity companies stand at 18.5%, while the European average is 10.5% and the German average is 5.6%
According to data from the Bank of Spain, the profit on electricity sales in relation to the average of all companies in the country is double, added Daz, who has criticized that in ten years, a company like Endesa has distributed among its shareholders 27,641 million euros in dividends.
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