(Montel) Norway’s government plans to introduce a 23% tax on power production when prices exceed NOK 700/MWh (EUR 67/MWh), in a bid to improve state finances amid soaring costs.
The new tax will immediately affect hydropower plants with a capacity above 10 MW and include all hydro and wind power plants with a capacity above 1 MW from the start of next year, the government said in a statement on Wednesday.
The tax is expected to generate NOK 16bn, which the government hopes will help balance tighter budgets in the years to come amid spiralling costs.…
