Utility challenges Finnish low-carbon energy tax

Fortum has complained to Brussels, saying the tax will undermine the EU emissions trading system’s goal of promoting low-carbon energy

Utility Fortum has complained to the European Commission about Finland’s planned low-carbon electricity tax, which aims to offset windfall profits accrued by power producers that do not need to buy carbon allowances.

The planned tax is being debated in the country’s parliament and is due to apply from 2014 or as soon as it is approved by the EU executive. The total potential revenue is estimated at €50m annually, of which Fortum will be liable for around half.

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