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EU countries could get EUR140 billion from profit redistribution, revenue cap in crisis energy plan

By Stefano Porciello ( September 14, 2022, 12:23 GMT | Insight) -- The energy sector faces a cap on producers' revenue and a redistribution of fossil-fuel companies' profits worth 140 billion euros, under the European Commission's new plan to help EU countries tackle high energy prices. That was the message for energy giants in Commission President Ursula von der Leyen's annual State of the Union speech at the European Parliament in Strasbourg, ahead of the commission presenting the plan this afternoon.The energy sector faces a cap on producers' revenue and a redistribution of fossil-fuel companies' profits worth 140 billion euros ($141 billion), under the European Commission's new plan to help EU countries soften the blow of high energy prices....

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