Another tax is looming over consumers, and this time it is aimed at CO2 emissions. The implementation of the tax will focus on doing away with the tariff deficit.
The tax will be called the céntimo verde and will be applied to combustible fuels such as diesel, gasoline and natural gas. Companies will start paying the tax in 2013, and the Spanish government wants the tax to extend to other areas, too, including individual transportation.
Using criteria related to the environmental impact of various fuels, the Ministry of Finance plans to tax diesel at 5.2 céntimos per euro, gasoline at 4.6 and natural gas at 3.6 per kilowatt hour.
The proposal will provide 6 billion euros in tax revenue annually, a significant amount that will contribute toward paying down the tariff deficit.