The executive chairman of the EDP considered this Thursday that the Iberian mechanism that places a cap on the price of gas for electricity generation is “reductive” and “does not make sense in a united Europe.”
“There are a lot of good things they can do to keep improving the market. [de energia na União Europeia]. I think the Iberian mechanism turns out to be reductive,” defended Miguel Stilwell d’Andrade at a press conference on the strategic plan for 2023-2026 in London, when asked about the possible expansion of the so-called Iberian mechanism, along with the same lines planned by the Government.
For the electricity industry, “creating exceptions does not make sense in a united Europe.”
“From the moment you start creating exceptions, it starts to fragment Europe, everyone goes their own way, everyone implements their own exception, sometimes we don’t have an integrated and united Europe. Europe,” the EDP leader emphasized.
When asked about the application of an excess profits tax (“windfall tax”), Stilwell d’Andrade said that “unfortunately” the EDP has had a “windfall tax” for many years, referring to the extraordinary contribution to energy. sector (EESC).
“We already have a ‘contingency tax’, we don’t have to pay another one. We understand that it does not apply to EAF,” he added.
However, in Spain, energy companies pay a levy, which EDP disputed as “a discriminatory and unjustified aggravating circumstance.”
“Of course we will protect our interests,” said EDP Spain CEO Ana Paula Marquez, adding that the company predicts total damages of between 40 million and 50 million euros and is considering filing an individual claim in addition. to joint protection., which has already been transferred.
For Miguel Stilwell d’Andrade, “changing the rules every three months is not good for an investment,” which also includes a few million and a few years.
“I believe that this was one of the problems of Europe as a whole, last year it gave rise to a very large regulatory uncertainty,” said the leader of the group.
For the executive president, Europe is losing out to the United States of America (USA), where he believes the Inflation Reduction Act package encourages investment.
“Europe must go in the same direction, [mas] contributes to higher fees,” he stressed, believing that “this is not a way to encourage energy transition.”
Author: Portuguese
Source: CM Jornal
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