The energy bill will become an additional “extra pay” this March for the Treasury, that will fatten its coffers with multimillion-dollar income from taxes on the consumption of fuel, electricity and gas, thanks to the war in iran. While the Government continues without activating any aid plan to reduce the impact of energy prices on homes, companies and the self-employed, public coffers add millions after the recovery of tax rates that had been reduced after the ukrainian war. Specifically, the recovery of VAT, the end of the gas cap and the progressive increase in electricity taxes have raised collections at the end of February above 2.1 billion euros, according to data collected from the Treasury. A figure to which we must now add the income arising from the increase in energy prices caused by the Middle East conflict.
In the case of fuels, the price of Oil shot up to $120 this same week, although at the close of the session this Tuesday the barrel of Brent remained below $88, after falling 11%. Despite this, the barrel has risen more than 40% compared to the end of 2025. This has caused the price of diesel to skyrocket by 40 cents in just over a week (up to 1.86 euros on average) and 20 in gasoline (1.70 euros per liter on average). Taking as a reference the consumption achieved in the month of March 2025, which exceeded 3,733 million liters, and the increase suffered since the beginning of the conflict, the accounts are clear. With 21% VAT, for each liter of diesel the Treasury would earn 39 cents (8.4 cents more than before the war) and another 36 cents in the case of gasoline (4.2 cents more). This would translate into more than 284 million – almost 255 million for diesel and 29 for gasoline. To this figure we should add what is collected by the Special Tax on Hydrocarbons (IEH), which on average collects about 700 million monthly.
But the Treasury will also benefit from tax revenue from other energy taxes. The average price of electricity in the wholesale market continues to skyrocket and yesterday increased by almost 15%, reaching 136.86 euros/MWh, reaching its maximum for more than a year and confirming an increase of 390% compared to 28.43 euros on Tuesday of last week and an increase of 2,800% over 4.69 euros a month ago, on February 10. Furthermore, in a year-on-year comparison, the increase is 47.2%.
The treasury also takes a cut in VAT due to the increase in the price of electricity (+380%) and gas (+70%)
As for the price of natural gas in the TTF market of the Netherlandsa reference in Europe, fell below 50 euros/MWh, but has accumulated a revaluation of around 70% since last February 28 due to the markets’ fear of a cut in energy supply as a result of the conflict and the cutting of the Strait of Hormuz. In total, with the three invoices, income would far exceed 300 million euros this month alone.
The Government continues without providing aid
Executive sources consulted by LA RAZÓN confirmed that a “response is being prepared on a double level: a temporary one, with measures to protect households, workers and affected companies, and another structural one, with measures to accelerate the ecological transition and strengthen strategic autonomy”, but they continue without confirming the fiscal measures that are going to be taken, as was already done with the war in Ukraine, limiting themselves to pointing out that “we continue to monitor and evaluate.” The PP has gone ahead and proposed a fiscal package to alleviate the situation, which includes lowering the VAT on energy to 10%, reducing personal income tax and also eliminating the electricity generation tax.