Spain’s government plans to raise about 6 billion euros ($6.39 billion) from its extraordinary tax on energy companies and banks, Budget Minister Maria Jesus Montero said on Tuesday, Reuters reported.

Spain approved a temporary tax on big energy companies and banks that was originally intended to raise 7 billion euros by 2024 to fund measures to ease cost-of-living pressures, but changes in parliament reduced the amount.

“The expected revenue is 1.7 billion from the energy tax and 1.3 billion from the banking tax (in 2023), for a total of 3 billion euros per year,” Montero said.

Oil company Repsol recently appealed the tax to Spain’s High Court and joined banks and utility associations to challenge the temporary tax.

“The collection of taxes in both cases is a completely controlled amount, given the amount of profits, which in no way (..) can be considered confiscation, but rather proportional to these profits,” said Montero in one place in these companies and banks are making record profits .

The Bank of Spain estimated in November that the government would collect a total of 5 billion euros ($5.33 billion) in taxes by 2024 after Congress exempts domestically regulated activities and foreign operations.

The Senate ultimately approved the one-time tax on banks, although it largely left out smaller local banks and units of foreign banks in Spain.

Companies had until February 20 to pay the first half of the tax and can now legally claim it from the tax authorities.

Montero said energy companies have so far paid 817 million euros in taxes, while banks have paid 637 million euros.