Germany’s CO2 tax is set to increase from the current 45 euros a tonne to 55 euros at the turn of 2025…
This will drive up heating and energy costs consumers and businesses.
Hat-tip: Blackout News
The hefty rise means the tax on CO2 will almost double in just 2 years. In 2023, the carbon tax was 30 euros a tonne.
But it doesn’t stop there, reports Blackout News. The CO2 tax gets taxed by the value added tax, which is currently 19 percent.
“Households and businesses that rely on petrol, diesel, heating oil or natural gas are facing growing financial challenges, writes Blackout News. “A liter of petrol will be 4.3 cents more expensive due to the CO2 tax, diesel will rise by 4.7 cents per liter. Heating costs will also rise dramatically. A kilowatt hour of gas will become a further 0.21 cents more expensive, which means a total increase of 1.21 cents compared to the time before the CO2 tax. Heating oil costs 17.5 cents more per liter – an increase that affects many households.”
The sharp increases will certainly bode ill for the current SPD-Greens-FDP coalition government – which undergoes a vote of no confidence later this month in Parliament. A no-confidence vote will lead to the dissolution of parliament and thus a new election within 60 days of the vote.
The pain at the gas pumps and from higher utility bills will make the current coalition government partners even more unpopular. But whether a new government led by Friedrich Merz (CDU) will change anything remains highly doubtful. Only the opposition AfD party has staunchly opposed the CO2 tax. Currently Merz’s CDU party is well ahead in the polls.
65 euros per tonne in 2026
The CO2 tax is set to rise to 65 euros a tonne in 2026, making the energy cost gap between Germany and other countries potentially unsustainable. Already there’s a growing dissatisfaction among German citizens and businesses as energy prices skyrocket into the stratosphere. Meanwhile the Trump administration as signaled a strong interest in making energy affordable again in USA.
Who’s profiting from the CO2 tax? The government.
According to Blackout News: “More than 18 billion euros flowed into the coffers, including 10.7 billion euros from national emissions trading for heat and transport. Compared to 2022, revenue in this area increased by 67 percent. Revenue from European emissions trading also increased by 12% to €7.7 billion.”
Read entire article here (German):
I pay 1 L gasoil 1.55€. In Italy it costs 1.7-1.8€.
So, Germany is not so bad after all.
And despite that, Italians continue to buy (used) diesel cars, because they are simply better.
🙂
“This will drive up heating and energy costs consumers and businesses.”
The French Revolutions springs to mind: Problem-Reaction-Solution…….
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Your economy is rapidly dying under the weight of high energy costs so you hatch a cunning plan to make electricity even more expensive.
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“Meanwhile the Trump administration as signaled a strong interest in making energy affordable again in USA.”
Wanting to make energy affordable isn’t the same thing as being able to make energy affordable. You can’t make something cheap when there isn’t enough supply of it. You can say “drill, baby, drill” but if the oil doesn’t come out in high enough quantities, you are still screwed. Remember when people talked about peak oil? Well, what if it’s happening now?