The effectiveness of a government measure that will heavily tax excess profits of energy groups as an extraordinary energy-crisis measure remains to be seen and will be determined once groups have announced their financial results for 2021 and RAE, the Regulatory Authority for Energy, has completed a related inspection.

Given the fact that the RES sector is returning surplus amounts to the Energy Transition Fund, supporting energy crisis measures, the tax measure will be directed at all other technologies, namely lignite, hydropower and natural gas.

The RAE check will compare the earnings of energy companies – in electricity production and supply – between the October-to-March periods of the past two years to determine if excess energy group profits exist, and if so, their size. Any increase in earnings will be taxed 90 percent, according to the extraordinary energy-crisis measure.