BAKU, Azerbaijan, April 16. The European Commission has approved state aid schemes for Bulgaria, Germany, and Slovenia totaling over €4,2 billion to provide electricity price relief for energy-intensive companies, TurkicWorld reports via the European Commission’s Directorate-General for Competition.
The measures, authorized under the Clean Industrial Deal State Aid Framework (CISAF), are designed to support industries at significant risk of "carbon leakage"— the relocation of activities to countries with less ambitious environmental regulations. The aid will compensate these companies for a portion of their electricity costs over the next three years.
The approved budgets for the member states are as follows: Germany - €3,8 billion, Bulgaria - €334 million, Slovenia - €90 million.
Under the terms of the approval, beneficiaries are required to reinvest at least 50% of the aid received into new or modernized assets. These investments must aim to reduce electricity system costs and align with market needs without increasing the use of fossil fuels.
The schemes are scheduled to run between 2025 and 2028, depending on the specific implementation timelines of each Member State.
