Romania: Hidroelectrica objects to windfall tax calculations

, SEE Energy News

Hidroelectrica, the largest electricity producer in Romani, will challenge the calculations of windfall tax in court.  National Agency for Fiscal Administration calculated windfall tax to be 12 million euros.

Hidroelectrica argues that ANAF has applied the law retroactively since the company calculated that it has to pay some 136.5 million euros in windfall tax.

According to the law, adopted in December 2022, the windfall tax rate was 80% of the difference between the average net monthly selling price and the benchmark of 90 euros/MWh between 1 November 2021 and 31 August 2022.

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