Updates Energy 4-2012
Bill on Tax measures in the area of the environment and energy sustainability
On 14 September 2012, the Council of Ministers approved, for submission to the Spanish Parliament, a Bill on Tax Measures for Energy Sustainability (the “Bill”) . Like other pieces of legislation approved in recent years in connection with the electricity sector, the Bill focuses on one of the most important problems currently facing the Spanish energy industry, namely, the tariff deficit, which by December 2011 stood at €24 billion.
Note that the measures included in the text approved by the Council of Ministers may still change as a result of the amendments that may be made to the Bill as it passes through Parliament.
According to final provision five of the Bill, once the Bill reaches the statute books, it will come into force on 1 January 2013.
1. CONTEXT FOR THE APPROVAL OF THE BILL
2. DESCRIPTION OF THE MAIN MEASURES ESTABLISHED IN THE BILL
2.1 Measures established in the Bill
2.2 Tax on the value of electricity output
2.3 Taxes on production of spent nuclear fuel and radioactive waste resulting from nuclear power generation and on storage of spent nuclear fuel and radioactive waste at centralized facilities
2.4 Amendment of Special and Excise Taxes Law 38/1992, of 28 December 1992
2.5 Hydroelectric generation charge
2.6 Remuneration for the sale of energy generated by using fossil fuels at generation facilities that use any non-consumable renewable energy as a primary energy source