17 April 2026
In a letter to EU Commission president von der Leyen, EUREC and a large group of NGOs have endorsed T&E’s call for a windfall profit tax on oil companies to support vulnerable households, industry, and the clean energy transition. EUREC particularly supports the idea that revenues should be clearly and transparently earmarked to accelerate the deployment of renewable energy and electrification solutions.
The letter specifically calls upon the European Commission to:
- Propose a renewed EU-wide windfall profit tax, to ensure a coordinated and timely response to the current energy crisis;
- Expand the scope of the mechanism to address profits generated by international fossil fuel companies, including those not headquartered in the EU but deriving significant revenues from the European market, exploring all available legal and fiscal instruments to ensure comprehensive coverage;
- Ensure that revenues are clearly and transparently earmarked for socially and environmentally beneficial purposes, including targeted support for vulnerable households, investment in energy efficiency, and accelerated deployment of renewable energy and electrification solutions;
- Embed the mechanism within a broader strategy to reduce Europe’s dependence on fossil fuels, ensuring that crisis response measures are aligned with the EU’s climate objectives and contribute to a faster, fairer transition to a clean energy system.