Finland plans windfall tax on nuclear, hydro CO2 profits

摘要

The Finnish government wants to impose a windfall profits tax on the country's existing nuclear and hydro power plants by 2011, a move it said could bring in as much as Eur330 million (US$437 million) annually.rnTimo Karttinen, utility Fortum's senior vice president for corporate development, called the tax punitive and against Finnish and EU climate and energy policy. The tax would be levied on profits companies make selling carbon-dioxide emissions allowances they now receive for free.rnPekka Tervo, a senior adviser at the Ministry of Employment and the Economy, said the government made its decision March 31. A working group has been set up to work out the specifics of the tax, he said in an interview.rn"There are lots of very difficult details that have to be worked out," including ensuring that the tax conforms to EU regulations, he said. Tervo said the tax also has to be structured so it does not hurt the competitiveness of Finland's energy-intensive industry.