German economy ministry wants to skim electricity windfall profit from November

Germany’s economy ministry wants to begin skimming off electricity providers’ windfall profits retroactively from November.

Only plants with output of more than one megawatt would be affected, and storage, hard coal, gas and biomethane would be excluded, according to the proposal from the ministry.

The draft paper proposes skimming off 90% of reference revenues plus a surcharge of 3 cents per kilowatt hour on the spot market. Renewables can keep a further 4% of the monthly base price, said the paper seen on Wednesday.