Iberdrola also appealed on a case-by-case basis a “tax” approved by Moncloa, which would be levied on energy and banking income. Recall that last week the company has already done this together with the association of employers of electric power companies Aelec.

During a conference with analysts where he presented the results, Ignacio Sanchez Galan, the company’s president, confirmed that he had filed an appeal against the tax and that he “hoped to win” the fight against Moncloa. Iberdrola states that “it’s against the constitutionand that for this reason they went to court.

“We have challenged these arbitrary and discriminatory measures that only affect certain sectors (energy and banking), sectors that are not in a comparable situation. This measure affects income, not emergency benefits. We believe that this tax violates the European Constitution and European law, and we do not expect the decision of the courts this year, perhaps next year,” said Gerardo Codes, director of legal services for the company.

The company, on the other hand, has also confirmed that it will have to pay around 200 million euros in tax that will come out of 1.2% of revenue created in Spain.

Accordingly, Iberdrola wanted to set aside the amount of money paid in Spain as taxes. In 2022, the group invested 7,500 million euros in
the public treasury of the various countries in which it operates, of which 2,600 million were sent to Spain. “Iberdrola is one of the three companies that pay the most taxes to the State Treasury,” the company said in a statement.

Regarding the energy market reform proposal being discussed in the European Union (EU), the company stressed that it “agrees” that this discussion serves “continued improvement”. At the same time, he stressed that, in his opinion, this market “works well.”