STOCKHOLM (Reuters) – The Finnish government said on Thursday it had proposed a temporary windfall tax on profits from the country’s electricity companies as part of a European Union response to soaring power costs.
The proposed 30% tax would apply to profits exceeding a 10% return on capital in 2023 and could bring in between 500 million and 1.3 billion euros ($533 million-$1.9 billion), the government said.
Finnish utility Fortum, which produces around one third of the country’s power, said in a separate statement it would closely study the plan.
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(Reporting by Anna Ringstrom, editing by Terje Solsvik)
