On 23 December 2022, Germany published the Law in the official gazette to introduce an electricity price break for purpose of change other energy law provisions. It provides for several electricity-related relief measures and the introduction of a windfall tax on power generation sector. The tax is applied by “skimming” off the surplus revenue of electricity producers through a 90% tax on revenue exceeding prescribed rates per kilowatt hour.
Tax payment is due by the 15th day of the 5th month following the billing period 1 December 2022 to 31 March 2023 and, from 1 April 2023, following each quarter.
