On Tuesday 7 February, the European Commission authorised a Greek scheme to partially compensate energy-intensive companies for higher electricity prices resulting from indirect emission costs under the EU Emissions Trading System (ETS).
The measure aims to reduce the risk of ‘carbon leakage’ and will benefit companies in sectors at risk of carbon leakage listed in Annex I of the Guidelines on State aid in the context of the greenhouse gas Emissions Trading System after 2021.
The compensation will be granted to companies in the form of a partial reimbursement of the indirect emissions costs incurred in the previous year (final payment in 2031). The deadline for payment of the 2021 aid is 30 April 2023. The maximum aid amount per beneficiary will be equal to 75 % of the indirect emission costs incurred (the maximum amount of aid may be up to 1.5% of the company’s gross value added).
Beneficiaries will have to cover at least 30% of their electricity consumption from renewable energy sources or invest at least 50% of the aid amount in projects reducing greenhouse gas emissions. (Original version in French by Lionel Changeur)