Post by loobyloo on May 26, 2022 17:55:06 GMT 1
(have just read on another local expat site)
Energy Price Cuts
You should all start seeing lower energy bills. Spain has cut VAT on energy bills from 21% to 10%. A special tax on electricity has also been temporarily cut from 7% to 0.5%.
To pay for these tax cuts, Spain introduced a windfall tax on energy companies, which aims to raise €3bn.
In April, the European Commission agreed a price cap for gas in Portugal and Spain - an average of €50 per megawatt-hour.
The price cap will last for one year and aims to halve gas bills for 40% of customers in the two countries.
When combined, Spain's measures are expected to cost about €21bn (£17.8bn).
They are announced today