Czech Senate backs windfall tax, opens way to energy price caps for big firms

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PRAGUE (Reuters) - The Czech upper house of parliament approved a windfall tax for energy firms and banks, backing a measure aimed at raising state revenue to pay for aid to households and firms hit by soaring electricity prices, the CTK news agency reported on Thursday.

Senators included an amendment in the bill that would allow the government to cap energy prices for large firms. The cabinet has sought a cap for larger firms but is waiting for more agreements at the European Union level before implementing it.

The legislation must still get the president’s signature before becoming law.

Reporting by Robert Muller, writing by Jason Hovet; Editing by Jon Boyle

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