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Slovak government plans to tax nuclear power plants

Slovak government plans to tax nuclear power plants, owners threaten bankruptcy

By Michal Hudec | EURACTIV.sk  11 Feb 22,  The “excessive profits” of nuclear power plants should be taxed as this would open up millions to compensate for the soaring energy prices, the economy ministry has said. But Slovenské elektrárne a.s, the owner of both Slovak nuclear power plants, claims the bill would lead to the private company filing for bankruptcy.

The government already agreed on a proposal and sent it to parliament to request a shortened legislative procedure. “The proposal introduces a tax on excessive profits for trading in electricity produced by nuclear facilities. The tax period will be a calendar month, ” the ministry wrote in an explanatory report.

According to the bill, excessive profit is a difference between electricity market prices and expenditures for their production in nuclear power plants. If parliament approves the bill, the state will get half of this difference. This year, it would be approximately €50 million………..

Slovenské elektrárne a.s. is a company owned by EPH of Czech billionaire Daniel Křetínský and Italian energy giant Enel. Together, they own two-thirds of the shares, with the rest belonging to Slovakia’s economy ministry.  https://www.euractiv.com/section/politics/short_news/slovak-government-plans-to-tax-nuclear-power-plants-owners-threaten-bankruptcy/

February 12, 2022 - Posted by Christina Macpherson | business and costs, EUROPE, politics