Romania Approves Windfall Levy on Power Firms to Mitigate Crisis

Romania’s government approved a levy on excessive revenue from power generators, traders and suppliers to help offset the damaging economic impact from Europe’s energy crisis.

“We want to stop this cascade increase in prices, especially in the trading area,” Finance Minister Adrian Caciu said after the meeting on Thursday.

The government agreed to the measure as European Union leaders contemplate unprecedented interventions in the energy market to contain the fallout of Russia’s invasion of Ukraine, as a spike in utility bills threatens to bankrupt companies and push households into poverty across the continent.

EU Mulls Energy Price Cap, Windfall Tax ...