11/01/2021 (Agence Europe) – On Monday, 11 January, the European Commission approved Spanish State aid to partially compensate the costs incurred by energy-intensive companies to finance various forms of support (production of renewable energy in Spain, high-efficiency cogeneration in the country, electricity production in non-peninsular Spanish territories). The scheme will be applicable until 31 December 2022 and will have an estimated annual budget of €91.88 million. Beneficiaries will be compensated up to 85% of their contribution to the financing of this aid. The Commission found that compensation will only be granted to energy-intensive companies more exposed to international trade. The measure will promote the EU’s energy and climate objectives and ensure the global competitiveness of users and industries without unduly distorting competition. (LC)