VAT cut to reduce soaring electricity bills

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A temporary reform passed by the Cabinet yesterday (Thursday) will cut electricity bills for homes by over 10%, according to treasury minister María Jesús Montoro.

Specifically, the measure will reduce IVA (VAT) on electricity until the end of this year from 21% to 10% for all consumers with up to 10kilowatts (kW) of power contracted, as long as the average wholesale market price is over €45 per megawatt/hour (MWh).

Full report in today’s Costa Blanca News – available from supermarkets, tobacconists/newspaper shops and online at www.costa-news.com

 

 

Read more in this week’s print edition or go to e-paper

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