EU Should Follow US on Electricity Taxes, Spanish Utility Says

The EU is taxing electricity excessively, hobbling its push for climate neutrality, according to Maria Munoz Viejo, head of tax at Endesa, a major electricity supplier in Spain.

High taxes on electricity put the EU at a “structural competitive disadvantage,” and create higher energy costs than in the United States or China, Munoz Viejo said Thursday at the International Fiscal Association conference in Madrid.

“Europe imposes taxes while the US provides incentives,” she said, adding that tax credits in the US have driven massive investments in clean energy.

“Importantly they have recently been preserved under Pillar Two safe harbor ...