Letter to EU from five member states: 'Tax extra profits of energy companies'

Published on 04/04/2026 - 12:40 GMT+2

Germany, Italy, Spain, Portugal and Austria person asked the EU for vigor companies to assistance alleviate the load connected consumers and taxpayers triggered by the warfare successful the Middle East, utilizing the other profits that companies are accumulating acknowledgment to rising substance prices.

The 5 Ministers of Economy and Finance wrote this successful a missive addressed to EU Climate Commissioner Wopke Hoekstra, pointing retired that actions taken astatine nationalist level connected excise duties indispensable beryllium accompanied by a associated effort.

"Given the existent marketplace distortions and fiscal constraints, the European Commission should swiftly make an EU-wide contributory instrument, based connected a coagulated ineligible basis," the 5 ministers argue, reiterating a petition made during the Eurogroup gathering of 27 March 2026, wherever "we supported and promoted measures to taxation the other profits of vigor companies. A akin instrumentality has already been introduced successful 2022".

The missive points retired that the struggle successful the Middle East has caused lipid prices to rise, putting a load connected the economy: "It is important to guarantee that this load is distributed fairly. Such a European solution would enactment arsenic a awesome to citizens and the economy, showing that we are agreed and capable to act."

Fuel prices person risen dramatically crossed Europe owed to the war, with Germany, Italy and Spain amongst the astir affected countries.

Earlier, the thought of suspending the EU's Stability Pact to springiness governments much leeway to woody with the situation and a imaginable recession, was rejected by the European Commission.