Nine representative bodies of Estonia’s manufacturing industry and the Estonian Employers’ Confederation jointly addressed the government protesting against a planned excise tax hike on natural gas.
“During the next four years, the gas excise tax will increase so much that energy-intensive industries will lose out on almost the entire leading edge that the fall in natural gas’ world market price has granted them this year”, the organizations evaluated.
Natural gas prices and related taxes in Estonia have undergone drastic changes from 2014 – the price of natural gas has dropped 1.7 times, from 32 to 19 euros per Megawatt-hour, due primarily to a drop in the price of oil.
Meanwhile, the Estonian tax on natural gas has increased from 2.52 to 4.36 euros per Megawatt-hour since 2014 but recent reports suggest that prices will be further increased. (BNN/Business World Magazine)