Greece, Tax for electricity producers reduced to 340 million euros

, SEE Energy News

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.

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