Germany’s Top Court Backs Energy Windfall Tax

Germany’s Federal Constitutional Court has backed the country’s energy windfall tax and rejected a suit targeting a levy introduced two years ago, Bloomberg has reported, with the suit filed by 22 power producers who argued the levy was unconstitutional. “In this exceptional situation, the redistribution of the so-called surplus revenues achieved creates an appropriate balance between the favored electricity producers and the burdened electricity consumers,” the court has ruled. Two years ago, shortly after oil and gas prices…