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Image header Agence Europe
Europe Daily Bulletin No. 8227
Contents Publication in full By article 24 / 33
GENERAL NEWS / (eu) eu/energy

The Commission authorises the United Kingdom to grant Euro 14 million to its coal industry

Brussels, 06/06/2002 (Agence Europe) - The United Kingdom is authorised to grant a total of €14 million by way of operating aid to six coal production units. This aid is intended to cover operating losses in 2001 and the period from 1 January 2002 to 23 July 2002. Aid to cover operating losses in 2001: Celtic Energy Ltd; L.A.W. Mining Ltd; M. & W.A. (Anthracite) Ltd; Betws Anthracite Ltd; J Flack & Sons Ltd; Coalpower Ltd. The granting of aid is intended to improve the economic viability of the production units by reducing their production costs. The aid will help to make the mines competitive, so that they can continue their activities beyond 2002 without subsidies from the public authorities. At the request of the United Kingdom authorities, an independent expert has compiled technical reports examining the potential of the modernisation, rationalisation and restructuring measures planned for the various production units to achieve the objective of economic viability.

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