Italy expects to raise 4 billion euros from energy companies
ROME (Reuters) – Italy expects to raise almost 4 billion euros ($4.2 billion) from two measures targeting energy companies that benefit from the surge in oil and gas prices, Bank of Italy officials said, addressing parliament on the new government’s 2023 budget.
Some 2.6 billion euros will come from a 50% one-off windfall tax levied on the part of 2022 corporate income which is at least 10% higher than the average income reported between 2018 and 2021.
But the central bank also noted that the government planned to raise an additional 1.4 billion euros in the first half of next year through a price cap on energy produced by plants fuelled by coal, fuel oil and renewable sources.
The cap is set at 180 euros per megawatt hour under regulation laid out by the European Commission.
“With these measures, the support of households and firms is partially funded through additional revenues stemming from those which have benefited from the extraordinary increase in the energy prices,” the Bank of Italy said.
The government plans to spend some 21 billion euros next year to help families and firms cope with sky-high energy costs. The sum is on top of some 75 billion euros already earmarked this year.
($1 = 0.9479 euros)
(Reporting by Giuseppe Fonte; Editing by Keith Weir)