Major confusion in energy sector over details of “solidarity” levy’s implementation

energy sector

Link Securities| The reform of the tax on large energy companies (Repsol, Iberdrola, Endesa, Naturgy and Cepsa) is generating monumental confusion in the sector, the newspaper Expansión publishes in today’s edition. To date, and despite the fact that the reform has theoretically come into force on 1 January 2024, nobody knows exactly how it will be applied. Thus, energy companies are urging the government to clarify when the reform of the “solidarity” tax will be applied and whether they must pay a further €1.2 billion or start applying deductions now.

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