ECONOMY

EU clears electricity surcharge discount

eu-clears-electricity-surcharge-discount

The European Commission said on Tuesday it had approved discounts granted to energy-intensive companies on a surcharge used to support renewable electricity production in Greece.

Athens imposes a surcharge on electricity consumers based on consumption to support both renewable electricity and high-efficiency cogeneration.

EU state aid rules authorize reductions up to a certain level of contributions levied on energy-intensive company exposed to international trade and used to fund renewable energy support schemes.

[Reuters]