‘Energy shortage’ EU to walk windfall tax for power generation, gas and oil companies

‘Energy shortage’ EU to walk windfall tax for power generation, gas and oil companies


The European Union, which is suffering from energy shortages due to Russia’s gas supply disruption, has decided to apply a ‘windwind tax’ from power generation, gas and oil companies.

The plan is to collect about 195 trillion won in excess profits from the surge in energy prices and use it to reduce the burden on consumers.

This is reporter Jung Da-mi.


A German family living on a retirement pension.

As energy prices soared after Russia’s invasion of Ukraine, the burden on households increased significantly.

“In the past, the cost of heating and hot water was 160 euros per month, but now it has risen to 268 euros. That means you have to pay an additional 108 euros per month.”

The European Union, which is waging an ‘energy war’ with Russia, has drawn up a ‘windfall tax’ card.

Current electricity prices are based on gas power plants, which have the highest generating costs.

As a result, power generation companies that produce electricity from non-gas energy sources such as wind, solar, and coal are earning more than usual.

In this way, we plan to use a windfall tax to recover some of the excess profits earned by power generation companies, gas and oil companies from the recent surge in energy prices, and use them to alleviate the energy crisis.

It is estimated that the amount that can be raised from the windfall tax is 140 billion euros, or 195 trillion Korean won.

“It would be wrong at this time to benefit from war and our consumers to generate exceptionally record revenues and profits. During this time, the benefits must be shared and delivered to those who need them most.”

The European Union’s head pointed out that “Russia’s war is not only against Ukraine, but also against Europe’s energy supply, economy, values ​​and future,” and emphasized that “Europe will eventually win.”

This is Yonhap News TV, Dami Jeong. ([email protected])

#Europe_Energy Crisis #Russia #Energy War #Windfall



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