The voices after skimming profits from energy companies are getting louder. This will also be a topic at today’s “Energy Crisis Summit”. Manager bonuses also add excitement.
Need brings emotion. While many people don’t know how to make ends meet and get dizzy at the thought of utility bills, energy companies are reaping record revenues. In addition to Verbund, the gas giant OMV managed to double its profit in the first half of the year. And: According to the annual report, the managers received extra bonuses of 6.2 million euros. Paid in March 2022 to current and former board members. With oil and gas price explosions, you can confidently bet on correspondingly higher additional bonuses.
SPÖ calls for ‘excessive profit tax’
That gets NGOs and especially the SPÖ going. The word “skim” makes the red round. In addition to Peter Kaiser from Carinthia or Hans Peter Doskozil from Burgendland, boss Pamela Rendi-Wagner. Today she will be hitting it on the chancellery table at the “Energy Crisis Summit” as part of her five-point plan. In view of the emergency, the SPÖ is demanding price ceilings for energy, food and rent. Also in focus is the “excess income tax” for OMV (the state has a 31.5% stake) and Co. “Because of exorbitantly high random profits as a result of the war in Ukraine.” Rendi-Wagner expects six billion euros in additional revenue for the state.
OMV invests, expert warns against populism
Chancellor Karl Nehammer (ÖVP) briefly considered something similar in May. That’s all he needed. After much excitement, the thought died down. Today the ÖVP is strongly against it. No intervention in the market. OMV refers to the 1.5 billion spent this year on gas storage and capacity from abroad.
Franz Schellhorn of Agenda Austria locates a populist contest between the parties. Above all, he takes a critical look at the SPÖ’s five-point plan. That wouldn’t solve any problem. On “skimming,” he says, “There is no need for a political vice squad to set the allowable profit levels.” Politicians could raise taxes on all corporations, or demand higher dividends from state energy companies — “and the money to the needy.”
Source: Krone
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