On Thursday 21 December, the European Commission announced that it had authorised an Italian aid scheme worth €17.7 billion to support the construction of facilities to store surplus electricity during periods of overproduction. These facilities will have a combined capacity of more than 9 GW/71 GWh. The measure should contribute to achieving the objectives of the European Green Deal and the ‘Fit for 55’ package.
Aid will reach recipients in the form of annual payments covering...