The Spanish Government has approved a draft bill that seeks to lower the electricity rate by 13% to the end user. This reduction will be achieved with the creation of the National Fund for the Sustainability of the Electricity System (FNSSE), and follows the line of de-carbonization and energy transition policies promoted by the Spanish executive.
The FNSSE will be implemented in the 2021-2026 period, it will cover the regulated costs of financing renewables, cogeneration and waste that until now are included in the electricity bill. The costs will be financed by all the companies that commercialize energy, based on their sales, which includes the hydro-fuels sector, and natural gas.
For the association of photovoltaic companies Unef, the fund "will give stability to the sector and favor electrification while reducing consumer bills," according to Rafael Benjumea, president of the organization.
Other sources in the energy sector point out that "it is a reasonable and equitable measure that is in line with the principle of technological neutrality, so that all sectors contribute equally to decarbonization." At the same time, they say that hydrocarbons (oil and gas) currently hardly contribute to it, despite being the cause of most CO2 emissions. So far electricity pays eight times more taxes than gas and 50% more taxes than gasoline.
Likewise, they underline that the measure is in line with those that have been adopted in other countries such as Denmark, where an environmental tax reform based on the "polluter pays" principle is planned, consisting of introducing a tax on CO2 emissions.
Germany, for its part, has implemented a tax reform where fossil fuels contribute to finance renewable energy, thus reducing the rate paid by all consumers.
France has also imposed a CO2 tax on coal, natural gas and petroleum products, so that energies pay taxes in proportion to the CO2 emissions they generate. The money raised through these taxes is used to finance renewables.
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