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Craig proposes a tax of up to 70 percent on excess profits from gas stations |  Economie

Craig proposes a tax of up to 70 percent on excess profits from gas stations | Economie

In a presentation to Parliament, the federal energy regulator Creg formulated new proposals to reduce excess profits and keep energy prices in check. This is what De Standaard writes today.

Engie/Electrabel made more than half a billion profit from nuclear power plants in just three months. According to Creg’s calculations, gas-fired power plants are also experiencing golden times. This continues to excite people’s minds, as more and more families struggle to pay their bills.

De Creg is now making new proposals to rectify the situation. He proposes, for example, deducting excessive profits from companies that generate electricity using their gas stations. This can be done by considering all profits in excess of €100 per megawatt of energy from the gas-fired power plant and each year as excess profits and taxation that can be as high as seventy percent. The tax will be applied as long as profits remain exceptionally high. This is expected until 2024.

Another option that Creg points to is to tie the excess profits to CRM, which is the subsidy mechanism set up to raise prices to persuade investors to build a gas or other capacity power plant. This link should prevent gas-fired power plants from combining their excess profits with CRM support from 2025.

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