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Sweden Introduces Temporary Tax on Excess Income of Electricity Producers

02 March 2023

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Approved Changes

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Sweden

The Swedish Tax Agency has issued a release announcing that a new tax on the excess income of certain electricity producers is introduced from 1 March to 30 June 2023. As previously reported, the tax is in line with Regulation (EU) 2022/1854 of 6 October 2022 and is levied at a rate of 90% on the income of electricity producers exceeding SEK 1,957 per megawatt-hour. Electricity producers must pay the tax on excess income if the electricity is produced in Sweden from wind energy, thermal solar energy, solar cell energy, geothermal energy, waste, nuclear energy, lignite (brown coal), crude petroleum...