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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