The Portuguese government rejected having obtained gains from the increase in fuel prices and announced more powers for ERSE, the Energy Services Regulatory Authority. The ministry assures that there was no benefit for the State from the rise in international market prices.
The Minister of Environment, Maria da Graça Carvalho, stated that the 700 million euros of additional VAT collected due to price increases were entirely used to lower the ISP, the special tax on petroleum products. This measure is said to have functioned as an automatic stabilizer for consumers.
The minister also defended the need for greater oversight and transparency in fuel price formation. This position arises in a context of concern about the evolution of energy prices and the impact on household budgets.
With the reinforcement of ERSE's powers, the aim is to guarantee greater supervision of the energy sector and ensure that consumers are protected from any irregular practices in the definition of consumer prices.
