The legislation that will set the emergency levy on natural gas companies will be ready next week. The revenue from the tax will be used to subsidize electricity bills in August, Environment and Energy Minister, Theodoros Skylakakis, said, adding that discussions with the European Commission for the establishment of a permanent mechanism regarding the “surplus revenues” will continue.
The measure of extraordinary taxation will be applied for at least two months, with July as a reference month, and will be reviewed towards the end of the summer – and depending on the market performance.
The intervention mechanism
According to the planning of the ministry, the legislation of the measure will proceed immediately and will be accompanied by the integration of the EU Directive 1711/2024.
The intention of the foreign ministry is to institute an additional intervention mechanism, which will be activated in cases of market distortions and will remain available for use on a permanent basis.
