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EU wants 180 eur/mwh revenue cap for wind, solar, nuclear plants - draft

EU proposes windfall levies on energy firms to ease price pain
EU proposes windfall levies on energy firms to ease price pain -  Copyright  Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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PRAGUE - The European Commission plans to cap at 180 euros per megawatt hour the price at which non-gas fuelled generators can sell their power, according to a draft proposal seen by Reuters.

The measure would skim off revenue above that price and use the cash to help consumers and businesses facing soaring energy bills. It would apply to wind, solar, biomass, nuclear, lignite and some hydropower plants, according to the draft proposal, details of which are due to be unveiled by Brussels on Wednesday.

The draft proposal would also introduce an EU-wide windfall levy to recoup 33% of fossil fuel firms' surplus taxable profits from fiscal year 2022.

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