Greece is one of the first countries to impose a levy on the surplus profits of energy producers, said Finance Minister Christos Staikouras, as a levy of 367 million euros was confirmed on the surplus profits of electricity producers.

As the Minister of Finance said the amount is payable until December 30, 2022, adding in his statement that the total amount of the extraordinary levy for the period in question amounts to 373,545,221.73 euros.

“In addition, from July 2022 until the end of November 2022, an amount of 2,568,412,721.83 euros has been collected, through the withholding mechanism of excess revenues on the energy exchange, of which an amount of 979,692,524.78 euros concerns withholding of profits from natural gas, lignite, and hydroelectric technologies and an amount of 1,588,720,197.05 euros from Renewable Energy Sources (RES).

Based on the above and excluding the RES, profits totaling 1,353,237,746.51 euros have been withheld from the electricity production companies.

Greece appears, based on a European Commission report, an analysis by the American organization tax foundation, and data from the Bruegel institute, as one of the first countries of the 27 member states of the European Union to have imposed a levy and/or withholding on the excess profits of electricity producers of energy, and indeed with the highest coefficient.

And these amounts are returned to the citizens through the support measures implemented by the Government, in a socially fair manner”.