EU Nixes Tax On Renewable Energy

European Commissioner for Energy  Günther H. Oettinger has reiterated that there will not be any new taxes imposed on renewable sources of energy, in response to a question from Nikos Chountis, a Greek Member of the European Parliament from the SYRIZA leftist party

Chountis raised the question because he said Greece was going to implement the tax as part of an agreement in a pending $173 billion second bailout for Greece from the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB.) A current tax is imposed not on the net profit of companies but on revenues, causing wide discomfort in companies which have invested on renewable energy sources.

Chountis reminded that in February this year the Commission had already stated that it was against any retrospective change on the framework of renewable energy sources and said the European Union should not allow Greece to impose the tax.

Oettinger said the Commission is still against the tax but that the responsibility lies entirely with each country. But, he said, the Commission is drafting legislation so that EU countries can not thwart the intention of the law.

(Source: European Commission)


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