CleanTechnica•9 days ago
Tax Fossil Fuel Profits to Reduce Exposure to Energy Price Spikes or End Subsidies
Key Takeaway
The article highlights a policy debate in the EU regarding taxing fossil fuel profits or ending subsidies to mitigate future energy price volatility, impacting market stability for large consumers and investment signals for developers.
AI Summary
- •Fossil fuel companies in the EU generated over €180 billion in taxable profits in the two years following Russia's invasion of Ukraine.
- •Analysis suggests these profits are linked to energy price spikes, prompting calls to implement an excess profits tax or end fossil fuel subsidies.
- •Proposed policy changes aim to reduce exposure to future energy price volatility, which could directly impact energy costs and market stability for large power consumers.
- •For developers, these policy discussions signal potential shifts in energy market economics and investment incentives away from fossil fuels.
Topics
policy
Article Content
Fossil fuel companies made €180bn in taxable profits in the EU in the two years following Russia’s invasion of Ukraine Fossil fuel companies made over €180bn in profits in the EU in the two years following Russia’s invasion of Ukraine, analysis on behalf of T&E shows¹. T&E calls for excess profits ... [continued] The post Tax Fossil Fuel Profits to Reduce Exposure to Energy Price Spikes or End Subsidies appeared first on CleanTechnica .