The European Commission has approved a RON2.9bn (€578m) Romanian scheme to lower an electricity levy rate for energy-intensive companies. The levy is intended to promote electricity from renewable energy sources and aims at mitigating the risk that energy-intensive companies may relocate their activities to locations outside the EU with less ambitious climate policies. The scheme, approved under EU State aid rules, will run until 31 December 2031.
Beneficiaries will receive a levy reduction between 75% and 85%, depending on their risk exposure. The applicable reduction must not result in a levy below €0.5/MWh. Under the scheme, beneficiaries will have to either implement certain energy audit recommendations, cover at least 30% of electricity consumption with carbon-free sources, or invest at least 50% of the aid in projects leading to substantial reductions of the installation's greenhouse gas emissions.
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