Spanish Government Extends Energy Windfall Tax by Decree

The Spanish government has issued a decree extending a temporary tax on energy companies into 2025, aiming to uphold commitments made to its partners and introduce tax incentives for strategic decarbonization investments. The decree, effective January 1, requires parliamentary ratification, which may face challenges due to differing party views. Utilities warn that the 1.2% tax extension could jeopardize €30 billion in renewable energy investments. Additionally, the government has extended public transport subsidies and approved a 2.8% pension increase for 12 million retirees. Read more.