# EU Considers Windfall Tax on Energy Profits

> Six EU nations push for new tax on oil and gas windfall profits, risking higher costs for US and Latin American exporters.
- Title: EU Considers Windfall Tax on Energy Profits · The Rio Times
- Summary: Six EU nations push for new tax on oil and gas windfall profits, risking higher costs for US and Latin American exporters. Six EU countries want a temporary…
- Keywords: windfall tax, energy profits, oil and gas, us energy companies, latin american exporters, poland, austria, germany, italy, portugal, spain, Considers
- Source: The Rio Times — https://riotimesonline.com/eu-windfall-tax-energy-companies-explained-2026
- Author: Juan Martinez
- Published: 2026-10-18T21:25:57+00:00
- Read time: 2 min
- Topics: eu, windfall tax, energy profits, oil and gas, us energy companies, latin american exporters, poland, austria, germany, italy, portugal, spain
## EU Windfall Tax Discussion
Six EU governments asked for an EU-level discussion of a new tax on oil and gas windfall profits.
## Why It Matters
A new levy could cut after-tax returns on european energy sales and trigger contract talks for us and latin american lng and crude exporters.
## 2022 Tax Numbers
The 2022 eu levy had a minimum rate of 33% and collected euro 26.15 billion (us$29.4 billion) over tax years 2022 and 2023.
## Who Pushes for Tax
Austria, Germany, Italy, Poland, Portugal and Spain launched a joint initiative asking for an eu-level discussion of extra taxes on oil and gas windfall profits.
## Poland's Action
Poland signed a law on 1 october 2026 charging 60% of excess profits from liquid fuel sales.
## Commission Stance
Commissioner valdis dombrovskis says member states are better placed to set such taxes.
## 2022 Tax Scope
The 2022 tax targeted taxable profits exceeding 20% above the four-year average profit baseline.
## US and Latin American Impact
US energy firms with eu subsidiaries could face higher tax exposure if a new levy follows the 2022 model.
## Contract Implications
Long-term lng and oil contracts may face disputes over who bears new tax costs.
## What to Watch
The commission-led working group will determine if a formal proposal follows.
## Poland's Rate
Poland's 2026 law charges 60% of excess profits from liquid fuel sales.
## 2022 Tax Collection
The 2022 tax collected euro 26.15 billion (us$29.4 billion) across tax years 2022 and 2023.
## Territorial Scope
The tax could target eu-based producers, permanent establishments, or trading profits booked in eu jurisdictions.
## Effect on Exporters
Exporters selling crude or lng directly from latin america to europe may not face the tax under a 2022-style model.
## What It Means for You
Check if your energy operations are eu subsidiaries or permanent establishments before a new tax.
## Key takeaway

Six EU countries want a temporary tax on oil and gas profits, potentially raising costs for US and Latin American energy firms.