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Government may discuss lowering electricity excise duty this autumn

Jüri Ratas and Finance Minister Toomas Tõniste (left).
Jüri Ratas and Finance Minister Toomas Tõniste (left). Source: ERR

According to Prime Minister Jüri Ratas (Centre), the government has not yet discussed the possibility of lowering the electricity excise duty, but will likely do so in the autumn. Forecasts currently assume that the market price of electricity may increase by up to 30% in the coming winter.

Ratas said at Thursday's government press conference that decisions related to excise duties are best discussed as part of the state budget strategy or the budget itself, both issues to come up again towards the autumn.

Whether or not lowering excise duties is an option in case the price of electricity should increase as forecast Ratas didn't say, though he did add that no further increases are currently on the table.

"I think the main excise policy issue at present isn't electricity, but fuel and diesel," Ratas said.

The stock exchange price of electricity has increased this year, and an additional hike of nearly 30% is forecast for the coming winter. According to Finance Minister Toomas Tõniste (Pro Patria), Estonia has been able to buy electricity at the exchange at quite a reasonable rate for years, and for now the potential price increase is just a prediction without the guarantee of the problem eventually becoming reality.

Editor: Dario Cavegn

Source: BNS

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