Italian energy company Edison SpA (EDN.MI) estimates a proposed increase to a tax on the profits earned by Italy's energy companies would cost it about EUR10 million, according to a person close to the power utility, Wednesday.

The person, who spoke to MF-Dow Jones on condition of anonymity, did not elaborate.

Shares in the country's energy companies have fallen on concerns that the so-called "Robin Hood" tax included in the government's austerity plan would hurt the sector's profits and generous dividend policies.

The plan, announced last Friday, would raise the tax to 10.5% from 6.5% for the next three years. Its application would also extend to transmission companies. The existing tax applies only to production companies.

The government's plan still needs parliamentary approval.

Shares in Edison, jointly owned by Italian regional utility A2A SpA (A2A.MI) and France's Electricite de France SA (EDF.FR), were up 3.24% at EUR0.80 in Milan at 1315 GMT.

-By Oscar Bodini, MF-Dow Jones; Gilles Castonguay, Dow Jones Newswires; +39 02 5821-9908; gilles.castonguay@dowjones.com

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