Oireachtas Joint and Select Committees

Tuesday, 18 April 2023

Joint Oireachtas Committee on Climate Action

Pre-Legislative Scrutiny of the General Scheme of the Energy (Windfall Gains in the Energy Sector) Bill 2023

Photo of Darren O'RourkeDarren O'Rourke (Meath East, Sinn Fein) | Oireachtas source

Have price caps and windfall or solidarity taxes been provided for since October 2021 and have a number of member states moved in that regard? If that is the case, why has there been a delay in the EU moving as a whole?

What is the reason for the difference in approach to the temporary solidarity contribution versus the cap on market revenue? We are particularly conscious in this State that the cap on market revenue applies for a far more limited period. I would argue that we have missed a very significant period, for example, last September, where renewables companies made exorbitant revenues. Is there an opportunity for retrospective application of the cap on market revenues? I note countries such as Belgium seem to be applying it as a tax and running it back to last June while France is taking the same approach and running it back to last July. Is there a process for member states to seek an extension, prospectively or retrospectively, for the application of these measures? Can they go beyond the end of June or prior to the beginning of December?

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