The production and trading of electricity produced in nuclear units will be subject to an excessive profits tax, according to a draft law on the excessive profits tax in trading with electricity produced by nuclear facilities, which the Government approved on Wednesday.
Moreover, the Cabinet also asked Parliament to discuss the bill in a fast-tracked legislative procedure.
The state will require from producers of electricity from nuclear installations 50% of the amount calculated as the product of the amount of electricity produced in this nuclear installation and supplied to the electricity market for a tax period expressed in megawatt hours and excess profits.
Slovenské elektrárne electric utility company protests against such taxation arguing that this step without an impact analysis will result in its bankruptcy, stop the process of launching the third unit of the nuclear power plant in Mochovce as well as the completion of unit 4.
The Economy Ministry determined the excess profits as the difference between the average electricity prices on the stock exchange for the period from January 1 of the year, which precedes by two years the relevant year, to June 30 of the year, which precedes the relevant year, and the economic costs of electricity generation in a nuclear installation in euros per megawatt-hour.
Source: TASR
