Special energy tax

New minister causes irritation by going it alone

The left-wing finance minister wants to impose an extra tax on energy companies.(Bild: APA/HELMUT FOHRINGER)

The government program was only presented a few days ago, but the new finance minister apparently has his own ideas. He wants a special tax for energy companies, which would bring an extra 250 million euros into the state coffers. There are no plans for this in the government program, and the ÖVP and NEOS are irritated. In the meantime, the SPÖ minister has probably given in, as the "Krone" has learned.

"Energy industry transformation contribution" - an unwieldy term, but apparently the means of choice for the new left-wing Finance Minister Markus Marterbauer to tax energy companies more heavily. Producers are to pay three euros for every megawatt hour of green electricity they produce, and even four euros for fossil fuels.

This revenue would then be used for the purpose of the energy transition, according to the draft, which is also available to the "Krone". Extrapolated, such a measure could generate another 250 million euros.

A special tax on energy production would also have an impact on the electricity market.(Bild: APA/HELMUT FOHRINGER / APA / picturedesk.com)

Special tax would drive up electricity prices
However, there is no mention of this in the government program. It only includes an extension of the existing energy crisis contribution, which is set to bring in 200 million euros. Marterbauer's solo effort therefore caused astonishment among the two coalition partners. Senior ÖVP circles said that they would not support any measure that would drive up electricity prices. However, this would be the case with such a measure. The NEOS also think little of the proposal mentioned in the draft paper.

Moreover, it would make investments in the energy industry less attractive, according to the renewables sector. The "Österreichs Energie" association warns of a "targeted increase in the price of electricity". The Federation of Austrian Industry is also firing back at Marterbauer: "The Finance Minister's hasty solo effort is creating uncertainty and offending entrepreneurs," says Secretary General Christoph Neumayer.

In the meantime, the SPÖ also appears to be taking a step back and backing away from the idea. Negotiators have said that they are sticking to the volume of 200 million euros in the government program and that there are only different approaches to achieving this goal. A new special tax is therefore likely to be off the table again.

Red City of Vienna hardly enthusiastic about the proposal
Even within the Social Democrats, there is not universal understanding for the proposal. This is because Wien Energie, which is owned by the red capital, is one of the largest power plant operators in the country and would be massively affected by such a tax.

In any case, the new tripartite government is not off to a perfect start. Just a few days after the inauguration, the first minor dispute has already arisen.