Tuesday, January 18

Iberdrola. The Government will return € 1,900M to electricity companies for illegal charges

The Spanish Government will return 1.9 billion euros to the country’s electricity companies, Iberdrola being the most favored, after the Supreme Court ruled that they had been illegally charged for the use of water. The minister for the ecological transition, Teresa Ribera, confirmed on Tuesday the extremes of the sentence.

The rate imposed on hydroelectric plants retroactively for 2013 and 2014 “has been considered illegal by the Supreme Court and forces us to restore what was collected during these years,” Ribera told reporters after the weekly meeting of the Council of Ministers.

After power companies Iberdrola and a subsidiary of Portugal’s EDP filed a lawsuit to recover what they had paid, the court ruled in May that the levy was illegally retroactive. The ruling also affects other electrical service companies.