Spain urges the EU to accelerate the energy transition and coordinate measures to address the crisis

Ane Barcos The Third Vice-President of the Government and Minister for Ecological Transition and the Demographic Challenge of Spain, Sara Aagesen Muñoz, urged the European Union this Wednesday to accelerate the energy transition, promote electrification and the use of domestic renewable energy sources, strengthen energy storage and the flexibility of the electricity system, and coordinate fiscal measures at the EU level to address the energy crisis. Speaking upon her arrival at the informal Energy Council meeting in Cyprus, Aagesen noted that Spain has implemented an energy policy based on an increasingly renewable energy mix since 2018. She highlighted that "we have increased our wind and solar power capacity by 150% since 2018," which allows electricity prices to be less tied to gas, decreasing from 75% of hours in 2018 to less than 10% in 2026. Aagesen emphasized that the Spanish strategy focuses on electrification and the development of "indigenous renewable energy sources," and that this policy provides "competitive prices for citizens and industry." At the EU level, she advocated for coordinated measures to accelerate the energy transition and urged the European Commission to propose new resources for electrification, renewable energy, and grids, as well as maximizing existing funds such as those from the Recovery and Resilience Facility, proposing to extend its implementation by six to twelve months. Aagesen reported that Spain, along with Italy, Germany, Austria, and Portugal, has sent a letter to the European Commission requesting common measures to address the potential extraordinary profits of energy companies, hoping for a common EU position. She stated that coordinated action at the European level is considered the most effective way to address this situation. Special tax on large energy companies Aagesen explained that Spain, along with Italy, Germany, Austria, and Portugal, has initiated joint action by sending a letter to Brussels requesting common EU-level measures to address the situation, advocating for the establishment of a special tax on the profits of energy companies. According to the minister, this initiative addresses “potential windfall profits arising from the new energy crisis we are experiencing, of course.” She indicated that the letter aims to prompt the EU to take coordinated measures to address the so-called windfall profits that energy companies may be reaping due to the current crisis. Aagesen emphasized that Spain believes “a common EU measure” is “the most effective way to address this situation.” She clarified that, for the time being, “we are still the five countries I already mentioned,” although she expressed confidence that other participants in the informal energy council might support this extraordinary tax on energy profits.

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