The flop of the tax on the extra profits of energy companies

Revenue below expectations (-8.2 billion), but things could get even worse if the companies’ appeals are successful. Draghi’s mistakes, Meloni’s problems

The tax on the extra profits of energy companies, introduced in 2022 by the Draghi government, was a flop. This was confirmed by the Minister of Economy, Giancarlo Giorgetti, answering a question from the leader of the Greens, Angelo Bonelli: of the 11 billion euros of expected revenue, only 2.8 have entered the public coffers (of which more than one from Eni alone). It is unlikely that non-compliance played a particularly important role, given the very high penalties that were introduced to discourage the cheaters. So, with the bowls still, two conclusions can be drawn: first, the revenue had been grossly overestimated; secondly, things could get even worse if the appeals of the companies – which immediately denounced the unconstitutionality of the tax – were successful. The problem does not lie in the principle claimed by the former Prime Minister, who called on companies that had benefited from the energy price increases to do their part.