Overview

This bulletin from Eversheds reports on two major developments: news that EU Commissioners are consider a energy tax overhaul, and the forthcoming International Wind Financing Summit, taking place in London in July.

According to a leaked draft document seen by Reuters news agency, the European Commission is considering an overhaul of Europe's €240 million annual taxation of energy. The alleged document, of which the content is still to be verified, proposes reforms which would bolster the competitiveness of renewable and low carbon energy sources and attempt to better incentivise investment, while helping the EU to tackle its worsening debt crisis. The document proposes a fundamental policy overhaul that would impose minimum levels of taxation for energy sources, ranging from coal to biofuels and renewables.

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