Brussels wants to raise EUR 140 billion by taxing energy companies
- The President of the European Union, Ursula von der Leyen, has announced that it will limit the revenues of electricity companies and tax fossil energy companies extraordinary tax benefits. An extraordinary meeting is held on 30 September to discuss the measures, and if they go ahead they can be historic.
So far these measures have always been very difficult, but when the war between Russia and Ukraine has to take seven months, the EU has decided to intervene in the energy sector. On the one hand, it will limit the prices of electricity producers through renewable, nuclear and lignite energies.
On the other hand, these extraordinary profits will be taxed on companies which in recent months are earning a significant amount of money for the sale of fossil energies. Although no reference has yet been made to the figures, according to various news agencies, benefits can be applied at a rate of 33% and a ceiling of EUR 180 for a megawatt can be applied at the price of energy. Finally, the EU also wants to push for a compulsory 10% reduction in energy in the hours when half the most energy is consumed.
With these measures, the EU treasury wants to fund EUR 140,000 million. At present, however, it is not clear what the position of the states is going to be, since many of them have been opposed to the taxation of companies. "It is not right for companies to have profits because of the war and for citizens to pay thoroughly," said the EU President.
Gas is ten times more expensive than last year
The war situation has increased prices and, for example, today gas is ten times more expensive than last year. This has generated great uncertainty among the population and a growing demand for price restrictions. However, the measures create contradictions between many right-wing leaders and politicians: In Spain, for example, the PP was shown this Tuesday against the imposition of energy companies, when the majority of Congress voted for these taxes.
In any case, as in the 2008 crisis, it seems that public institutions are increasingly taking steps to channel the situation and that the issue of energy does not get out of hand. According to many indicators, a common rule is being repeated – Austria limits electricity, Scotland bans evictions, France nationalises the largest electricity company in the area… – in good times private interests raise funds and, at more serious times, public space intervenes by providing funds to channel the situation.
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