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Ireland to tax wind farm profits

ReNews.biz|September 13, 2022
IrelandTaxes & SubsidiesEnergy PolicyElectricity Prices

The leader of Fianna Fail said some energy producers with low input costs are earning revenues they “never dreamed of”.  The cash will give the government a “steady stream of income” that will give it the “firepower required to deal with this winter”, he added.


The Irish government will tax any excess profits of wind generators, according to Taoiseach Micheal Martin.
 
Martin said renewables companies will be part of an EU-wide scheme expected for non-gas generators or a “domestic mechanism”.
 
The leader of Fianna Fail said some energy producers with low input costs are earning revenues they “never dreamed of”.  The cash will give the government a “steady stream of income” that will give it the “firepower required to deal with this winter”, he added.
 
He said the idea of a windfall profit is a good one as it will provide fairness amidst surging energy bills for consumers.
 
He was speaking in response to a question on wind farm operator profits on national radio on Tuesday morning.
 
The EU is expected to reveal more details of its proposed non-gas windfall tax tomorrow.

Source:https://renews.biz/80403/irel…

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