According to information from the “Free Press”, the reactivation of the mechanism of taxation of surplus profits to producers will be put on the table, while the plan will concern the implementation of taxation for the July-September quarter. In fact, the matter acquires the character of urgency and for this the Ministry of Foreign Affairs is going to immediately request approval from the Commission.
It is recalled that the extraordinary levy of electricity production companies had been applied for the period October 2021 – June 2022. The total amount recovered from the companies was 373.55 million euros. The cap on the wholesale electricity market was lifted at the beginning of the year with the withdrawal of emergency measures, when natural gas prices began to fall.
However, the large fluctuations that are observed even within the same 24 hours in the electricity market create conditions for…skyrocketing profits for the companies. For example, today at noon, the hourly Market Clearing Price stands at 60.05 euros per megawatt hour, while in the followingnoon it jumps to 600 euros per megawatt hour.
The issue of high electricity prices worries the political leadership of the Ministry of Environment and Energy, given the expected high demand due to the significant increase in temperature during the summer season. Increases which are expected to be reflected in the August tariffs, which will be announced by the electricity providers at the end of July.
At the same time, it is also connected with what has been happening for a week in the markets of Central and Southern Europe, where the reduction of flows to Hungary, with a parallel decline in transport capacity on the connections between Serbia-Hungary and Bulgaria-Romania, has assumed dimensions, pushing up wholesale prices on the stock exchanges of the wider region.
It is recalled that the Waste, Energy and Water Regulatory Authority is already conducting an investigation into the price increases in electricity, in order to establish what is causing the extreme fluctuations in wholesale prices.
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