Business · Energy & Commodities · 2 days ago
EU agrees to further study taxes on energy companies’ excess profits
EU finance ministers discussed whether energy companies should pay a tax on profits above normal levels.
The meeting took place in Luxembourg, and the issue now needs further technical study.
European Economy Commissioner Valdis Dombrovskis said member states are best placed to introduce such taxes.
The European Commission will set up a working group to share countries’ experience and help governments considering action.
Several countries, including Italy, Germany, Spain, Portugal and Austria, have previously called for a European response.
The discussion matters because governments are weighing whether companies that benefit from the crisis should help ease the burden on the public.
No EU-wide tax proposal or timetable was announced.
The European Commission says EU member states are best placed to tax excess profits made by energy companies.
EU finance ministers agreed to further technical work on the possibility of such a levy.
The Commission will establish a working group to share national experiences and assist governments.
Economy Commissioner Valdis Dombrovskis said the Commission had discussed whether to propose EU legislation.
Irish Finance Minister Simon Harris said the issue warranted further examination at a technical level.
- Who
- EU member states, the European Commission and EU finance ministers.
- What
- Ministers agreed to further technical work on taxing energy companies’ excess profits, and the Commission will set up a working group to help governments.
- When
- October 9, 2026.
- Where
- At an Ecofin meeting in Luxembourg.
- Why
- To examine the possibility of taxing excess profits and help member states share practices and take action.
This story does not have two clearly opposing sides.
Dal punto di vista della Commissione, riteniamo che gli Stati membri siano nella posizione migliore per adottare misure sulla tassazione degli extraprofitti delle aziende energetiche
È stato concordato che la questione merita ulteriori approfondimenti e un lavoro a livello tecnico
Italy’s economy minister and ministers from Germany, Spain, Portugal and Austria signed a letter asking for a European solution to be considered.
Ministers, including Poland’s, sent a letter to the Irish presidency calling for common action.
EU finance ministers agreed to further technical work on the issue at a meeting in Luxembourg.
The European Commission said it would establish a working group to share practices and assist member states.
- Commission position
- Member states are best placed to adopt measures taxing energy companies’ excess profits.
- Working group
- The European Commission will establish one to share national practices and assist governments.
- Meeting
- Ecofin met in Luxembourg.
- Minister
- Simon Harris, Ireland’s finance minister, presided over the EU Council meeting.
- Earlier letter
- Ministers from Italy, Germany, Spain, Portugal and Austria signed a letter in early April seeking consideration of a European solution.
Sources
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