Endesa Would Accept Tax on Extra Gas Profit, Not All Revenue (1)

Endesa SA would accept paying a tax on the windfall profit generated from its natural gas business alone but not a levy on all of the utility’s domestic revenue like the one approved by Spain’s government, Chief Executive Officer José Bogas said.

The Madrid-based company generated €500 million ($528 million) in profit from using gas supplies that were freed up by a drop in industrial demand and selling them on the spot market in 2022.

Endesa has already appealed against the Spanish government’s levy on all domestic revenue, which will have an impact of €208 million on its accounts, Bogas ...