Azerbaijan and EU strengthen...

Azerbaijan and the European Union have expressed their readiness to strengthen cooperation in...

Ukraine receives second U.S....

Ukraine has received its second shipment of liquefied natural gas from the United...

Romania: EIB invests 30...

The European Investment Bank (EIB) is allocating up to 30 million euros to...

Montenegro: EPCG announces tender...

Montenegrin state-owned power utility EPCG has launched a tender for the procurement of...
Supported byClarion Energy banner
HomeSEE Energy NewsGreece, Tax for...

Greece, Tax for electricity producers reduced to 340 million euros

Greece will collect a sum of over 340 million euros in the name of an extraordinary tax for electricity producers. This 90 percent tax was imposed on electricity producers and refers to additional profits made in the period from October 2021 to June 2022, the Energy Regulatory Agency, REA, announced after the final processing of the related data by certified accountants.

This amount is less than the initial sum of EUR 373.5 million, which was estimated based on preliminary data.

The largest part of this discrepancy of about 33.5 million euros refers to the Greek electricity company PPC, which will have to pay 31 million euros less than the originally estimated 276 million euros. In this way, the tax liability of PPC was reduced to 245 million euros.

The country’s private electricity producers, Mytilineos, Elpedison and Heron, will have to pay an additional 1.2 million euros in the name of this extraordinary tax, according to the final settlement.

The extraordinary tax measure for electricity producers will be applied only for the mentioned nine months, because in the current market conditions there will be no need to extend its application.

The decline in wholesale electricity prices over the last few months has significantly affected the decline in the income of electricity producers. At the same time, the need for electricity subsidies for households was reduced.

Sign up for updates & special reports

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Azerbaijan and EU strengthen energy cooperation through gas and renewables expansion

Azerbaijan and the European Union have expressed their readiness to strengthen cooperation in the supply of natural gas and renewable energy, according to a statement from Azerbaijan’s Ministry of Energy. The first meeting of the working group established between Slovakia...

Ukraine receives second U.S. LNG shipment amid efforts to reduce Russian energy dependence

Ukraine has received its second shipment of liquefied natural gas from the United States, reinforcing its commitment to reducing reliance on Russian fossil fuels. According to the Financial Times, the shipment was procured by DTEK, Ukraine’s largest private energy...

Romania: EIB invests 30 million euros in Pestera II wind farm to boost renewable energy and energy security

The European Investment Bank (EIB) is allocating up to 30 million euros to support a major wind energy project in Romania, reinforcing the country’s transition to renewable energy and bolstering its energy independence. This investment will help develop a...
Supported bySEE Mining News
error: Content is protected !!