June 26, 2022

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New tax on additional earnings launched – Corriere.it

On the energy front, June 22 was a busy day. It all starts with the International Energy Agency (AIE)’s number one alarm bell on Possible interruption of gas deliveries from Moscow: The closer we get to winter – says Fatih Birol Al financial times The more we understand Russia’s intentions: I think the cuts are aimed at preventing Europe from filling its deposits and increasing its influence in the winter months. His words go back to Milan, where he was the chief executives of three strategic Italian energy security companies – Claudio Descalzi from Eni E Stefano Venier from Sanam – Meeting at the Mediobanca Italian CEO Conference: Theme, Energy Independence and Price Increases.

Summit with Cingolani in Rome

In the late afternoon, they are expected to arrive in Rome with other major Italian energy companies at the summit with the Minister of Environmental Transformation Roberto Cingolani on storage node. He is before participating in the Cabinet of A new law decree was enacted to expand the procedures already in place to contain bills (Cancellation of general system fees and reduction of value-added tax to 5%) also in the third quarter with a financial commitment of approximately 3.3 billion. An expense that must be covered from one proceeds New tax on extra profits Of those who import gas at prices significantly lower than those sold, which will affect the period from July 1, 2022 and March 31, 2023.

The new tax on additional gas profits

But not only. The government led by Mario Draghi has also agreed to help encourage methane purchases between now and the next few weeks to create a buffer stock. Sace guarantees will be in the field for companies that stock. Priority to stock up as much as possible for the winter. In Moscow Descalzi more optimistic. After supplies are cut by 50% compared to orders there should be no further reduction. The cuts – as Descalzi said yesterday – have stabilized. It is difficult to determine potential future cuts. But the supply interruption means the entire income is lost. Following commercial logic, but here’s where we might get past it, I think that stability can continue. However, we must not waste time and get into a situation increase the width To be able to store. We are currently at 55.24% coverage against the 90% target by the end of October. All this happens when the price of gas (the futures contract in the European reference market in Amsterdam) rises and falls to close at 127 euros per megawatt-hour. A year ago it was 19 euros.

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Towards a carbon tax in Europe

Meanwhile, the European Parliament in Brussels has found an arena for its negotiating position regarding the reform of the ETS (Emissions Trading Scheme), which extends to shipping and waste-to-energy plants, and agreed to Gradually eliminate free carbon dioxide quotas between 2027 and 2032. MEPs also agreed on the position on the so-called carbon tax And on the Social Climate Fund. The text must be negotiated with the states and the commission. On the other side of the ocean, US President Joe Biden has called on Congress to suspend the federal fuel tax for three months.