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EU warned against ‘patchwork’ of taxes to alleviate energy crisis
(EurActiv, 19 Sep 2022) Emergency EU measures presented last week to alleviate the burden of high energy prices on consumers risk creating a patchwork of different interventions across Europe and depress investments in renewable energies, industry sources have warned.
The European Commission proposed two measures to redistribute the extraordinary revenues some energy companies have made due to the impact of soaring gas prices on the energy market.
These measures comprise:
- A revenue cap on the sale of “inframarginal” electricity technologies such as renewables and nuclear, which the Commission has set at €180 per megawatt hour;
- A “solidarity contribution” on benefits made by fossil fuel companies, taken from at least 33% of surplus profits made in the fiscal year of 2022.
But the implementation of those measures, which is left to national governments, is causing concern that industrial and household consumers will benefit differently depending on which country they are located in.
“The proposals for windfall profit recovery are very vague and are basically left to the member states to implement,” said Bram Claeys from the Regulatory Assistance Project, a climate and energy think tank.
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EurActiv, 19 Sep 2022: EU warned against ‘patchwork’ of taxes to alleviate energy crisis
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