Galán: "The energy companies that are increasing their profits are the gas and oil companies, not the electricity companies"

MADRID, 27 Jul. (EUROPA PRESS) -

The president of Iberdrola, Ignacio Sánchez Galán, has defended that the electricity companies "have no extraordinary benefits", as the Government accuses the sector, and has pointed out that the energy companies that are taking advantage of the current upward spiral in energy prices to increase their profits they are "the gas companies and the oil companies".

In a conference with analysts to present the results of the first semester, the head of the company recalled that 63% of the energy consumed is gas and oil, while the rest is electricity.

"As far as I know, the energy companies that are increasing their profits in Europe are the gas and oil companies, not the integrated power companies," he said. Thus, the president of Iberdrola unmarked the electricity companies from the special tax that the Government wants to impose on banks and energy companies to raise some 7,000 million euros in two years.

Galán stressed that the electricity companies "do not have extraordinary benefits", as the Government points out, although he considered that the gas and oil companies "is not the same case".

On the other hand, the manager opted for a "normalization" of electricity production in the second half of the year, with the recovery of the Cofrentes nuclear plant and a foreseeable better behavior of the hydraulics.

Regarding the sale of its own generation to final customers, it indicated that for this year it is already 100% sold, while for 2023 it reaches 80% and 60% for 2024 and 40% for 2025.