# EU will propose windfall levies on energy firms, von der Leyen says
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-09-14
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: EU to propose revenue caps for low-cost electricity and
Meta Description: EU aims to curb record profits from energy prices, ensuring fair distribution to consumers in times of crisis. Ursula von der Leyen supports the move.
URL: https://financedigest.com/eu-will-propose-windfall-levies-on-energy-firms-von-der-leyen-sayshtml

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BRUSSELS (Reuters) – The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission President Ursula von der Leyen said on Wednesday.

“In these times it is wrong to receive extraordinary record revenues and profits benefitting from war and on the back of our consumers. In these times, profits must be shared and channelled to those who need it most,” von der Leyen said in a speech to the European Parliament in Strasbourg.

Von der Leyen said the bloc was also discussing energy [price caps](https://www.financedigest.com/eu-meets-to-try-to-break-gas-price-cap-impasse.html "EU meets to try to break gas price cap impasse"), and working to establish a “more representative benchmark” price for gas than the Dutch Title Transfer Facility (TTF).

(Reporting by Kate Abnett, Marine Strauss)


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