The president of Iberdrola, Ignacio Galán, has taken advantage of the general meeting of shareholders that the group holds this Friday to welcome the possible reduction of some taxes that are levied on the electricity bill, such as generation or VAT. "Let's not forget that the main beneficiary of high electricity prices, especially in a scenario like the current one with a high price of CO2, is the

Public Treasury,

which receives, not only large taxes proportional to the price of energy, but also the income from the sale of CO2 rights that this year could reach 2,500 million euros ", he pointed out during the meeting held electronically.

The president of Iberdrola has denounced that the fiscal part is the one that has the greatest weight in the invoice. "There are many factors that affect the price of electricity but, without a doubt, the most significant is the degree of taxes, charges and fees that are imposed and that citizens pay to a large extent," he explained.

Galán has also referred to the cut projected by the Ministry of Ecological Transition on the income of nuclear and hydraulic power plants in the country. The chief executive of the largest Spanish electricity company has criticized that these are "unjustified charges on non-emitting technologies" and has asked that the measure be redirected during the parliamentary process "to seek solutions that guarantee full coherence between the energy policy that is committed to decarbonization and a stable and reliable normative and regulatory framework ".

Galán has made reference to the warnings made by investors and rating agencies about the consequences of carrying out regulatory cuts at a time when the country needs to attract investment to boost its energy transition.

"It is essential that the regulatory framework preserves legal certainty and the legitimate confidence of investors," he concluded.

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