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Germany to Make ‘Billions’ Off Energy Firm Levy, Scholz Says

  • Says he’s certain Europe’s No. 1 economy can avoid blackouts
  • Plan envisages recouping company profits above a threshold
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Germany’s government expects to receive a large revenue boost by tapping windfall profits generated by energy companies if they keep benefiting from disruptions in Europe’s electricity market, Chancellor Olaf Scholz said Sunday.

Germany will take in “many, many billions” of euros under the scenario and would use the revenue to help consumers hit by rampant inflation, Scholz said in an interview with broadcaster ZDF on Sunday.