Amidst discussions concerning the taxation of electricity windfalls, political parties unanimously greenlit the Cyprus Energy Regulatory Authority (CERA) budget for 2024 earlier today.
MP Andreas Kafkalias, representing AKEL, voiced support for the taxation of electricity companies’ excess profits. He criticised the previous administration for safeguarding energy firms, leading to unexpected gains.
Kafkalias expressed hope that the new government would take a different approach and move forward with levying taxes on windfall profits. He also reminded that a pending proposal from his party regarding the taxation of excess profits awaits consideration in Parliament.
Adding his voice in favour of taxing unexpected electricity profits was Alekos Tryfonidis, a DEPA MP.
DIKO MP Chrysis Pantelides addressed the recently approved €60 million anti-poverty measures, highlighting the continuation of electricity subsidies within the package. Pantelidis further noted that a bill facilitating the implementation of the Photovoltaic Plan for all citizens would be presented for approval in Parliament next week.
Concluding the discussions, DISY MP Onoufrios Koulla raised doubts about whether all parties concur with AKEL’s proposal for taxing excess profits.
He expressed reservations about the feasibility of implementing such taxation, as outlined in AKEL’s proposal.
