Energy markets are not cash machines for milking low-income households

The statement criticizes the high profits of fossil fuel companies like Eni, Exxon, and Chevron amidst rising energy poverty in Europe, particularly in Italy. It advocates for the European Commission's REPowerEU plan to allow Member States to tax windfall profits, which the IEA estimates could generate €200 billion in 2022. Additionally, it calls for the EU ETS2 revision to ensure big polluters absorb carbon costs to protect vulnerable households.

• Fossil fuel companies have seen massive profit increases due to post-pandemic recovery and the invasion of Ukraine, while low-income households, especially in Italy, face significant energy poverty.
• The REPowerEU plan allows EU Member States to impose windfall profit taxes on energy companies, a measure that the International Energy Agency suggests could raise up to €200 billion in 2022 for consumer redistribution.
• The author argues that the revision of the EU Emissions Trading System (EUETS) and the potential implementation of ETS2 for buildings and transport must ensure that large polluters, not poor households, pay the majority of implementation costs.

APA

Martellucci, E. (2022). Energy markets are not cash machines for milking low-income households. Carbon Market Watch. https://carbonmarketwatch.org/2022/05/05/energy-markets-are-not-cash-machines-for-milking-low-income-households/

Chicago

Martellucci, Elisa. Energy markets are not cash machines for milking low-income households. Carbon Market Watch, 2022. https://carbonmarketwatch.org/2022/05/05/energy-markets-are-not-cash-machines-for-milking-low-income-households/.

Wikipedia

{{cite press release |last1=Martellucci |first1=Elisa |title=Energy markets are not cash machines for milking low-income households |publisher=Carbon Market Watch |date=5 May 2022 |url=https://carbonmarketwatch.org/2022/05/05/energy-markets-are-not-cash-machines-for-milking-low-income-households/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martellucci2022energy, author = {Martellucci, Elisa}, title = {{Energy markets are not cash machines for milking low-income households}}, publisher = {Carbon Market Watch}, year = {2022}, month = may, url = {https://carbonmarketwatch.org/2022/05/05/energy-markets-are-not-cash-machines-for-milking-low-income-households/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }