Germany to cap electricity bills by taxing producers – Reuters ...News

The windfall tax could cut 90% of the profits of power generating companies Germany plans to cap electricity prices for households and industries to help them cope with soaring energy prices by trimming the profits of some producers, Reuters reported on Wednesday, citing a draft document from the Economy Ministry. European power companies have enjoyed record profits this year due to soaring energy prices across the continent. The proposed scheme would reportedly be funded by a €200 billion ($196 billion) aid package for households and businesses to deal with the cost-of-living crisis, which the German government a

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