Tax relief for energy giants

Following on from the cross-party energy agreement in the spring, Sweden’s coalition government is planning tax cuts of some SKr 10 billion. The output tax on nuclear power will be phased out over two years, starting in 2017, while the property tax on hydropower will be reduced over four years, from 2.8% to 0.5% of the taxation value. In practice, Vattenfall, Uniper and Fortum will each receive a share of the cuts, with households footing the bill. Taxes on electricity for an average household will rise by SKr 800 per year, say experts.