Commission approves a EUR 405 million Greek scheme to support energy-intensive companies
The measure is designed to limit the risk of carbon leakage, by preventing firms in highly electricity-dependent sectors from relocating their activities to third countries with less stringent climate policies, which could otherwise lead to an overall increase in global greenhouse gas emissions. The scheme replaces a previous aid measure approved in December 2018.
Beneficiaries will receive reductions of between 75% and 85% on electricity levies, subject to a minimum floor of €0.5/MWh. In return, companies must comply with environmental commitments, such as implementing energy audit recommendations, investing at least 50% of the aid in emissions-reduction projects, or covering at least 30% of their electricity consumption from carbon-free sources.
The Commission assessed the scheme under the 2022 Guidelines on State aid for climate, environmental protection and energy (CEEAG), concluding that it is necessary, proportionate, and has a limited effect on competition and intra-EU trade.
For more information, see the Commission’s PR.