Bloomberg: Commission proposal for an extraordinary levy of 33% on the surplus profits of refineries

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The European Commission is still considering introducing a ceiling of 180 to 200 euros per megawatt hour for companies producing electricity from renewable energy sources and nuclear plants.

A ceiling of 180 to 200 euros per megawatt hour is being considered by European Union for the companies that produce electricity from renewable energy sources and nuclear plants, as part of the package of measures against the energy crisis, according to sources cited by the Bloomberg.

The Commission, which is due to present an unprecedented plan to intervene in energy markets tomorrow, also plans to propose a temporary levy on oil, gas, coal and refinery companies, amounting to at least 33% of their super profitsaccording to the same sources.

Fiscal year 2022 pre-tax profits that are at least 20% higher than the three-year average from 2019 onwards will be used as a basis.

To reduce energy demand, the Commission is considering a target for 10% cut in total consumption but also a mandatory target to reduce peak demand by 5%.

The final numbers will have to be approved by EU commissioners meeting today, after which national governments will need approval.

According to Bloomberg, some governments may push for changes in her plan Commission President Ursula von der Leyen, and after deep disagreements over how the package was designed last week.

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