The energy price crisis continues, leaving Europeans struggling to pay their skyrocketing energy bills. The resulting situation for energy businesses is ambivalent. While some of these companies are facing bankruptcy due to unexpectedly skyrocketing purchase prices, others are achieving record profits. It is these profits that have led to substantial public pressure, demanding to lower the financial burden of EU citizens. As a reaction, EU Member States agreed to “skim off” revenues and profits from energy producers. But what specifically did they decide on? How will Member States implement this so-called “EU emergency regulation”? And most importantly: do these plans endanger the much-needed rapid expansion of renewables as envisioned in the REPowerEU plan?