RIS: Increased profits of natural gas supply companies will be taxed at a rate of 90%

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The revenues from the imposition of the extraordinary fee will be committed in favor of the Energy Transition Fund (TEM) and will be used to subsidize the electricity and gas bills of professional consumers and households.

On the occasion of the statements of SYRIZA executives for the information note of the Energy Regulatory Authority (RAE) regarding the financial results of the gas supply companies in the years 2019 – 2021, the Ministry of Environment and Energy points out the following:

“RAE proceeded to compile the information note following a request from the Ministry of Environment and Energy. With a legislative regulation that will be submitted to the Parliament by the Ministry of Environment and Energy, the positive change in the profit margin of gas supply companies between 2020 and 2021 will be taxed at a rate of 90%, as happened with the increased profitability of electricity companies.

The revenues from the imposition of the extraordinary fee will be committed in favor of the Energy Transition Fund (TEM) and will be used to subsidize the electricity and gas bills of professional consumers and households.

THE SYRIZAa victim of catastrophizing and non-existent programmatic discourse, is annoyed every time the government takes measures to support society because it loses the only field that distinguishes that of populism and deception.

We understand the annoyance of the official opposition for the fact that Greece is the only country in Europe that taxes at such a high rate the increased revenues of electricity producers and gas supply companies.

We also understand that SYRIZA is bothered by the fact that Greece has taken the most important measures to support society from the effects of the international energy crisis, as international bodies also point out. Indicative is the recent report of the Bruegel Institute, according to which our country has made the largest expenditures as a percentage of GDP (3.5%) among the 27 member states to support households and businesses.

As the Prime Minister, Kyriakos Mitsotakis, has pledged, the Government will continue to support social cohesion for as long as necessary, exhausting all the budgetary margins at its disposal. “Our main concern is the protection of the most vulnerable social strata and for this reason in all energy saving programs, such as” Save 2021 “and” Recycle – Change Device “special care is taken for our weakest fellow citizens.

RAE’s information note states the following:

1. All the companies that were active in the supply of electricity in 2021 showed losses, as they absorbed part of the increase in the prices of the wholesale market, especially due to the contracts with end customers that preceded the energy crisis.

2. The majority of electricity suppliers already recorded losses in the years 2019 and 2020. The dominant company, PPC SA, had a significant profit margin in both years.

3. Drawing conclusions in the gas retail market is extremely difficult, as there are significant differences between companies in terms of profit margin.

4. The companies that are mainly active in the wholesale market of natural gas have a positive profit margin. It is worth noting the significant increase in the profit margin of DEPA Emporia SA. from 7% in 2019 to 24% in 2021. It is noted, however, that, according to company information:

I. The “Other Revenue” of the company includes a provision of Euro 83,236,209, which comes from an Arbitration decision with Botas of previous years.

II. Within 2022, it paid the Botas supplier the amount of USD 50,530,727.23, for Take-or-Pay charges for the year 2021, while the Take-or-Pay payment for the year 2020 is pending at Gazprom, estimated at 40,000. 000Euro.

III. Pursuant to article 30 of law 2579/1998, DEPA SA obligatorily distributes to its Shareholders 35% of its profits, ie in this case an amount of Euro 90,613,502.

Source: ΑΠΕ-ΜΠΕ

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