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AlwaysFree: Czech Senate Backs Windfall Tax, Opens Way To Energy Price Caps For Big Firms

Author: SSESSMENTS

According to Reuters article published on November 24, 2022, the Czech upper house of parliament approved a windfall tax for energy firms and banks, backing a measure aimed at raising state revenue to pay for aid to households and firms hit by soaring electricity prices, the CTK news agency reported on Thursday.

Senators included an amendment in the bill that would allow the government to cap energy prices for large firms. The cabinet has sought a cap for larger firms but is waiting for more agreements at the European Union level before implementing it.

The legislation must still get the president's signature before becoming law.

Tags: AlwaysFree,Bio/Renewables,Central and East Europe,Czech Republic,English,Europe

Published on November 25, 2022 11:47 AM (GMT+8)
Last Updated on November 25, 2022 11:47 AM (GMT+8)