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GreeceBusinessEU Commission approves 1.36 bln euro Greek scheme to compensate energy-intensive businesses...

EU Commission approves 1.36 bln euro Greek scheme to compensate energy-intensive businesses for the cost of indirect emissions

Hellenic News of America
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The European Commission has approved, under EU state aid rules, a Greek scheme for partial compensation of energy-intensive enterprises for the increase in electricity prices as a result of the cost of indirect emissions under the EU Emissions Trading System (ETS).

The scheme, notified by Greece, with a total estimated budget of 1.36 billion euros, will cover part of the increase in electricity prices due to the impact of coal prices on the cost of electricity production (the so-called “indirect emission cost”) which will arise in the period 2021-2030.

The support measure aims to limit the risk of “carbon leakage”, i.e. the transfer of production by companies to countries outside the EU with less ambitious climate policies, resulting in an increase in greenhouse gas emissions worldwide.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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