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Germany Expects About $10 Billion From Energy Windfall Levy

  • Government to decide on details of tax as soon as possible
  • Additional revenue to finance part of energy relief package
Bloomberg business news
EU Eyes 140 Billion Euros From Power Producer Revenue Cap

Germany could reap around 10 billion euros ($10 billion) by skimming off windfall profits from energy companies benefiting from market disruption, according to Finance Minister Christian Lindner.

The government in Berlin plans to work out the details of the levy as soon as possible, Lindner told Bloomberg Tuesday on the sidelines of a conference in Berlin. The additional revenue will be used to finance part of a 65 billion-euro relief package unveiled this month to help citizens and companies cope with soaring energy prices.