MNI BRIEF: Japan's Q4 GDP To Rise 0.5% Q/Q; Annualized 1.9%

MNI: PBOC Net Drains CNY292 Billion via OMOs Wednesday

CHINA JAN CAIXIN MANUFACTURING PMI 49.2 VS 49.0 IN DEC

MNI: UK JAN BRC SHOP PRICES +0.7% M/M, +8% Y/Y

Coming up in the Asia-Pac session on Wednesday

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
JGBS

Curve Bull Flattens, Futures Hold Narrow Ranges

CNY

Barclays Bullish On CNY

THB

J.P. Morgan Takes Profit On Long THB Trade

NZD

Pressured; Caixin PMI & Q4 Labour Report Weigh

US TSYS

J.P.Morgan On Refunding Roll Estimates

US TSYS

Light Bid After Softer Than Expected Chinese PMI Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Czech Government To Introduce Windfall Tax On Energy Profits

ENERGY
BulletEnergy BulletsHomepageCommodities

The Czech government has approved plans for caps on the revenues of energy profits, to fund measures to lower household energy bills, according to Reuters.

  • The Czech government plans to introduce a windfall tax on profits made by energy firms and the country’s largest banks to raise $4.1bn in 2023. The scheme is planned from 1 December 2022 until the end of 2023.
  • The government plans to introduce caps from €70/MWh of electricity from nuclear plants and €240/MWh for power production by gas from biomass.
  • The cap will also apply to production based on forward contracts sold in the past.
  • The Czech price cap is based on the EU agreement to cap power producers' revenue at €180/MWh.
  • Energy prices were the main driver for record inflation data in the Czech Republic which reached an annual pace of 15% in September.
140 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The Czech government has approved plans for caps on the revenues of energy profits, to fund measures to lower household energy bills, according to Reuters.

  • The Czech government plans to introduce a windfall tax on profits made by energy firms and the country’s largest banks to raise $4.1bn in 2023. The scheme is planned from 1 December 2022 until the end of 2023.
  • The government plans to introduce caps from €70/MWh of electricity from nuclear plants and €240/MWh for power production by gas from biomass.
  • The cap will also apply to production based on forward contracts sold in the past.
  • The Czech price cap is based on the EU agreement to cap power producers' revenue at €180/MWh.
  • Energy prices were the main driver for record inflation data in the Czech Republic which reached an annual pace of 15% in September.