Sorgenia sees "Robin Hood" tax costing 50 mln euros

MILAN, July 3 (Reuters) - Italian power utility Sorgenia SpA estimates the impact of the government's proposed "Robin Hood" tax would cost it an accumulated total of 50 million euros ($79.40 million) by 2015.

As a result, the utility would likely pass part or all of it on to its consumers, according to Chief Executive Massimo Orlandi.

"The Robin (Hood) Tax will surely have an impact on prices," he told analysts during the presentation of Sorgenia's 2008-2012 business plan on Thursday.

Economy Minister Giulio Tremonti wants to raise 4.5 billion euros in 2009 from this extra levy dubbed the "Robin Hood" tax, the proceeds of which he says would be used to help the needy.

Tremonti has threatened to further raise taxes if energy companies -- as well as banks and insurers -- pass on the extra cost to their customers.

After initiallly protesting against the idea of the tax, energy companies have minimised its impact on their bottom line.

But the chief executive of Sorgenia's parent, Compagnie Industriali Riunite (CIR) (CIRX.MI: Quote, Profile, Research, Stock Buzz), said he was confused by it.

"I don't understand why the tax should hit the sale of electrical energy because there are no 'windfall profits' (made from it)," Rodolfo De Benedetti said.

The holding company of the De Benedetti family CIR owns the majority of Sorgenia. Austrian utility Verbund (VERB.VI: Quote, Profile, Research, Stock Buzz) owns a minority stake.