State energy firms will not pay dividends because of new taxes
SPP-distribúcia, 51% owned by the state but EPH having managerial control, will not pay dividends for financial year ending in July 2022. It reported a €135m net profit. HN sources say pipeline operator eustream, which reported a €265m net profit in the same period and has the same owners, will not pay dividends either. Both companies blame the war in Ukraine, the reduction of gas flows from Russia and the government's plans to impose new taxes. Dividends would be collected by state-owned SPP, which counted on €220m last year and €156m this year. EPH's decision will thus worsen the state's fiscal position.
