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Germany's Bundestag has approved the introduction of a windfall levy on excessive earnings from renewable energy generation as part of a package of measures meant to cap gas and electricity prices through April 2024.
The tax will apply to wind, solar, hydro, waste-to-energy, nuclear and brown coal-fired power plants of over 1 MW with a retroactive effect as of December 1, 2022. The levy will be paid until June 30, 2023 but its term can be extended to April 30, 2024.