Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

Finland

Finland

Talk of levy on fossil and nuclear to fund renewables

Finland's trade and industry ministry is considering proposals to introduce a windfall levy on utilities as well as fossil fuel and nuclear power generators. The money raised will be used to fund investment in renewables, with the largest chunk already earmarked for onshore and offshore wind development. "Right now we are looking for a suitable model under which utilities would have an obligation to transfer windfall profits into a special fund," says Taisto Turunen, director general of the ministry's energy department. "At this stage we are considering a possible model. We expect a proposal for a scheme to emerge from this process in May or June." The introduction of such a levy would require new legislation. "If there is to be a special fund it may not happen until 2007 at the earliest and how big a part of the annual windfall profits could be earmarked for this purpose would be a political decision," says Turunen, adding, however, that around EUR 40 million a year could be expected to be raised.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Latest Jobs