🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Czech government approves plan to skim revenue from electricity producers

Published 11/09/2022, 08:02 AM
Updated 11/09/2022, 08:06 AM
© Reuters. FILE PHOTO: Czech Prime Minister Petr Fiala attends a European Union leaders' summit in Brussels, Belgium October 21, 2022. REUTERS/Yves Herman/File Photo

© Reuters. FILE PHOTO: Czech Prime Minister Petr Fiala attends a European Union leaders' summit in Brussels, Belgium October 21, 2022. REUTERS/Yves Herman/File Photo

PRAGUE (Reuters) - The Czech government approved plans for revenue caps on prices charged by electricity producers as it seeks to raise tens of billions of crowns to pay for planned measures to ease the burden of soaring energy prices, Prime Minister Petr Fiala said on Wednesday.

The plan is part of legislation that will head to parliament for approval. Fiala said revenue caps will be complementary to an approved windfall tax to be slapped on energy firms and the country's biggest banks from 2023.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.