{"id":73666,"date":"2022-11-18T10:30:49","date_gmt":"2022-11-18T10:30:49","guid":{"rendered":"https:\/\/theelectricityhub.com\/?p=73666"},"modified":"2022-11-18T10:40:21","modified_gmt":"2022-11-18T10:40:21","slug":"austria-launches-windfall-tax-on-energy-companies","status":"publish","type":"post","link":"https:\/\/theelectricityhub.com\/austria-launches-windfall-tax-on-energy-companies\/","title":{"rendered":"Austria launches windfall tax on energy companies"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400\">Austria launches windfall tax on energy companies.<\/li>\n<li><span style=\"font-weight: 400\">The important thing is that we are taking a step towards greater fairness<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">On Friday, Austria&#8217;s government announced plans to introduce a windfall tax on energy companies of up to 40% for oil and gas firms. The move implements a <\/span><span style=\"font-weight: 400\">European Union-wide agreement<\/span><span style=\"font-weight: 400\"> for a levy of at least 33%, aimed at redistributing some of the extra income energy companies have earned thanks to soaring prices driven largely by Russia&#8217;s invasion of Ukraine.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Austrian Vice-Chancellor Werner Kogler of the Greens, said the extra profits are war dividends. In addition, \u201cThe important thing is that we are taking a step towards greater fairness&#8221;.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The statement said that tax will apply from Dec. 1 of this year until the end of 2023. Also, a separate system will apply to power companies, kicking in when they earn 140 euros ($145) per megawatt power hour. The threshold can be increased to 180 euros if those companies invest in renewables.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Austria launches windfall tax on energy companies. The important thing is that we are taking a step towards greater fairness On Friday, Austria&#8217;s government announced plans to introduce a windfall&hellip; <\/p>\n","protected":false},"author":29,"featured_media":73173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[3236,496],"tags":[],"class_list":["post-73666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-carbon-emissions","category-international-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Austria launches windfall tax on energy companies &#8226; The Electricity Hub<\/title>\n<meta name=\"description\" content=\"On Friday, Austria&#039;s government announced plans to introduce a windfall tax on energy companies of up to 40% for oil and gas firms.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theelectricityhub.com\/austria-launches-windfall-tax-on-energy-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Austria launches windfall tax on energy companies &#8226; 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