Greece, Electricity producers owe the state some 367 million euros in windfall taxes

, SEE Energy News

Greek Minister of Finance Christos Staikouras said that electricity producers owe the state some 367 million euros in windfall taxes which the Government introduced as a part of the support package to mitigate the effects of rising energy prices.

Minister Staikouras said that this amount is based on the increase of the producers’ gross profit margin for the period between October 2021 and June 2022 and is payable until 30 December 2022. However, this is not the final amount, and, after final calculations, it is expected to exceed 370 million euros.

He said that from July until the end of November 2022, the amount of 2.57 billion euros has been collected through the excess revenues’ withholding mechanism on the energy exchange, of which some 980 million euros is related to excess profits from natural gas, lignite and hydropower and 1.59 billion euros is related to excess profits from renewable energy sources.

Based on the above and excluding RES, profits totaling 1.35 billion euros have been withheld from the electricity generation companies in Greece.