Temporary Solidarity Contribution concerning the Oil, Gas, Coal and Refinery Sectors

The European Commission has published its proposal for a Council regulation on an emergency intervention to address high energy prices. Besides establishing a regime for demand reduction and a cap on market revenues from electricity production, the European Commission plans include a so-called solidarity contribution for surplus profits generated from activities in the oil, gas, coal and refinery sectors. The contribution shall be used to finance measures that help mitigate the current burden on...
By: Hogan Lovells