Revealed: Electricity market price cap and windfall energy tax to be in place by summer

📆 2023/02/16 4:27:00
📰 businessposthq

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Measures could raise hundreds of millions for the exchequer this year, while the government has committed to using the proceeds on tackling the cost of living

Irish electricity generators making excessive profits from the high cost of wholesale energy will have their licenses suspended if they don’t comply with a new market price cap to be introduced by the summer, the Business Post can reveal.

Separately, a windfall tax on Irish fossil fuel producers, primarily the operators of the Corrib gas field, will also be introduced and will apply retrospectively to profits from 2022 as well as 2023.

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