Commission approves Greek plan to support energy-intensive companies
Under the scheme of 150 million euros, the aid will take form of direct grants and will be channelled through electricity suppliers in the form of electricity bill reductions.
Under the scheme of 150 million euros, the aid will take form of direct grants and will be channelled through electricity suppliers in the form of electricity bill reductions.
The scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on March 23 and amended on July 20, based on Article 107(3)(b) of the Treaty on the Functioning of the European Union (‘TFEU’), recognizing that the EU economy is experiencing a serious disturbance.
The measure aims at allowing the smooth integration into the Greek electricity system of an increasing share of renewable energy from wind and solar sources.