Spain Spares Tax Pain For Iberdrola, Endesa; Higher Prices Promise Cashflow Gains Mostly From 2023
Spain’s reversal of plans for a windfall tax on power providers leaves utilities facing modest extra payments rather than multibillion-euro tax bills. Iberdrola SA, one of Spain’s biggest utilities, is a case in point, says Scope Ratings. Enel SpA, the Italian parent of Spanish utility Endesa, has provided less information though it is sticking to an EBITDA forecast for its Spanish activities issued before the energy levy was announced.