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Macron Backs EU-Wide Windfall Tax on Energy Company Profits

  • French president says a levy could be implemented with EU deal
  • The EU is working on a set of emergency energy measures
Updated on

France backed a European Union-wide windfall tax on the profits of energy companies, becoming the latest country to support the extraordinary measure to rein in the effects of the power crisis.

“We support a European mechanism which we’d ask for from European energy operators whose production costs are far lower than market sale prices,” French President Emmanuel Macron told reporters on Monday after holding a call with German Chancellor Olaf Scholz. “This is the approach that France supports, and it’s the approach that France and Germany support.”