BUSINESS

Industry happy to see gas tax ease

CHRYSSA LIAGGOU

TAGS: Taxation, Energy

The sectors of industry and power production were satisfied on Thursday with the reduction of the special consumption tax on natural gas for industrial use and the complete abolition of the fuel’s use for electricity production, according to the multi-bill expected to pass into law this Sunday.

The drop in the special consumption tax on natural gas for industrial use satisfied a long-lasting demand of the industry linked to its competitiveness, while the abolition of the fuel’s use for electricity production restores legality in the power production sector as the imposition of a special consumption tax on its gas use violated a European Union Directive.

As for the clauses of the multi-bill on opening up the retail electricity market and the separation of the Independent Power Transmission Operator (ADMIE) from the Public Power Corporation, the private part of the market is satisfied, while PPC appears skeptical.

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