On Friday 7 October, the European Commission authorised €10 billion in support from Finland for energy producers in the context of Russia’s war against Ukraine.
The scheme was authorised on the basis of the State aid Temporary Crisis Framework adopted by the Commission on 23 March and amended on 20 July 2022.
It is a €10 billion loan guarantee scheme to provide emergency liquidity support to electricity producers. The measure will be open to electricity producers with a production capacity of at least 100 MW and other producers with regional importance, significance or criticality in electricity markets.
The loans will be granted directly by the Ministry of Finance. The eligible loans must relate to working capital needs, with a maximum maturity of two years.
The maximum loan amount per beneficiary cannot exceed the liquidity needs derived from the projected additional safeguards for the coming 12 months. In addition, eligible beneficiaries are required to submit documentation of their liquidity needs based on their hedging activities, which will be verified by the Ministry of Finance. (Original version in French by Lionel Changeur)