Polish Briefing: The government does not plan to introduce windfall tax and may remove gas from the stock exchange

What goes on in Poland on the 13th of July.

The government does not plan to introduce windfall tax

– At the moment we are at the level of analyzes of individual possible solutions, so as of today there is no such project – said government spokesman Piotr Muller. The prime minister Mateusz Morawiecki announced that a mechanism was to be developed for sharing the profits of State Treasury companies with citizens. – Companies realize higher profits, therefore, either through the regulator, or the companies themselves, we will develop a mechanism for sharing these profits with citizens, or we will introduce – like France, England, Spain – a tax on extraordinary profits on those gas and energy companies that actually have very high profits. The coming months will bring a decision – said Morawiecki in Rypin.

The government may remove gas from the stock exchange to ease prices in the time of the energy crisis

The government will deal with a bill limiting the exchange obligation on the gas market. The energy crisis fueled by Gazprom encourages the limitation of the role of the exchange, which is pricing this fuel higher and higher. On July 12, the government’s agenda included an item devoted to the draft law on the amendment of certain acts in order to strengthen the state’s gas security in connection with the situation on the gas market. BiznesAlert.pl found the project aims to limit or suspend the exchange obligation on the gas market.

Obligo is an obligation of gas traders to sell it on the exchange. This prices the fuel in relation to record prices resulting from the reduction of supply by Russian Gazprom, which in 2021 is responsible for 40 percent of supplies to the European market. Limiting or suspending the obligation will allow to regulate the price outside the trading floor. However, supporters of stock trading remind that it is a benchmark on the market.