Europe’s Ukraine war and gas-fuelled price crisis has propelled energy policy to the top of the EU’s agenda, with ministers meeting on Friday to thrash out emergency measures to ease crippling pressures on consumers and businesses.

The issue of ‘windfall taxes’ has spread beyond oil & gas firms, with renewables operators increasingly in the sights of governments eyeing what one German policymaker called “insane profits” from fossil-free generation amid a gas-led power price boom.

EU Commission president Ursula von der Leyen struck a similar note when she proposed a cap on renewable and nuclear generators enjoying “revenues they never dreamt of” that do not reflect production costs.