Companies dedicated to

supplying electricity and water,

sanitation and waste management

shot up their income by 121.4% in February,

due to the unprecedented increase in the

price of energy

, according to data released this Tuesday by the

INE

.

This is the industrial segment with the

greatest increase in its turnover in a single year

-from February 2021 to February 2022-, which also represents a

record

since the historical series of the National Institute of Statistics began.

If the data corrected for seasonal and calendar effects are observed, the increase in the income of electricity companies is even higher,

122.9%

compared to the same month last year.

It is foreseeable that, given the inflation in the month of March -which reached the level of 9.8% in Spain- the business turnover of the electricity companies will register an

even higher growth last month.

In intermonthly terms, in February compared to January, the income of these companies moderated by -1.7%.

On average,

so far this year,

the turnover of these companies has risen by

106.2% year-on-year.

The increase in income for these firms is much higher than

the industry

average , of

28.9% year-on-year,

which represents the twelfth month of increases.

Compared to January, the growth in industry turnover was 2.1%.

Cut profits that fell from the sky

This spectacular increase in their income and, therefore, in their profits, leads many organizations and groups to request that the Government resort to a cut in

"windfall profits".

The Commissioner for the Economy, Paolo Gentiloni, was the last to request it this Monday in a letter addressed to all the ministers of the branch, in which he recommended that they not lower taxes on gas and electricity to try to contain inflation, but instead, instead, resort to this type of route as well as direct aid.

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