The Spanish Association of Petroleum Products Operators, known as AOP, represents major players in the sector, including Repsol, Cepsa, bp, Galp, Gunvor and Saras. AOP cautions against extending the special tax on energy companies. In a government agreement backed by the PSOE and Sumar, the association notes that maintaining the tax could jeopardize 16.5 billion euros in energy transformation investments. AOP conveyed this concern to the media on Monday, stressing that keeping the measure, originally established for 2023 and 2024, could limit the capacity to fund future projects and slow Spain’s progress toward decarbonisation targets within the National Integrated Energy Plan and Climate (PNIEC). The association argues that the current tax undermines Spain’s industrial competitiveness when compared with foreign operators.
Investments in Spain would face heightened financial and regulatory risk if the tax is kept in place, according to AOP. Extending this extraordinary measure for up to two years to address what has been described as the worst global energy crisis in decades is seen as incompatible with EU energy policy. The EU framework emphasizes competitiveness and industrial leadership in the global market. The note from the oil employers highlights that zero-emission technologies and market normalization should not be used to penalize the Spanish industry, which does not receive special preferential benefits.
Industry representatives also point out that extending the tax would have negative repercussions for employment, the development of new investments, and the security of energy supply in Spain. They reiterate their opposition to the tax, arguing that it is inconsistent with existing regulations and poorly designed. AOP suggests that the proposal should wait until 2017, calling for relevant assessments from both the EU and the Spanish Government to analyze the first year of the tax’s impact.
Increase investments
The employers’ association stresses the need for greater investment to accelerate the energy transition, a goal reflected in the current PNIEC revision. The plan outlines a substantial investment effort, with a target of approximately 294 billion euros by 2030, with a large share expected to come from private sector resources. The association warns that keeping the tax would raise fiscal and regulatory uncertainty, potentially slowing the pace of this transition and the accompanying investments.
In addition, the organization emphasizes the sector’s vital role during challenging periods such as the sharp escalation of global tensions, including Russia’s invasion of Ukraine. Spain’s energy security, the association notes, benefited from past investments that helped maintain refinery operations and keep service stations open during disruptions. The broader message calls for a clear regulatory and fiscal framework that supports investment in the energy transition while ensuring the reliability of supply for essential products.