German Chancellor Merz says that he sees no factual or legal basis for a windfall profit tax, when asked about fuel prices

In past episodes of this kind across the region, some governments have enacted levies on energy sector profits while others have rejected them on investment and legal grounds, and the distinction that matters is between a tax on genuine economic rents and one on normal profits, since the former is easier to defend legally and the latter tends to be challenged or deter supply. The Chancellor's framing, factual and legal basis rather than outright political refusal, leaves the door technically ajar should prices move sharply higher, which is the standard hedged phrasing rather than a hard commitment. For German refiners, utilities and fuel retailers the read-across is to headline risk on margins rather than any immediate change, since windfall tax debate historically reprices the sector only when draft legislation or coalition movement appears. The follow-ons are whether coalition partners or the opposition keep pressing the idea, and whether fuel price levels sustain the public pressure that drives it. As a verbal position rather than a policy act, this is a statement of status quo, not a decision.