State aid: Commission approves €3.4 billion Danish scheme to support energy intensive companies in the context of Russia’s war against Ukraine

Daily News 03 / 11 / 2022


Economy - published on 04 November 2022


https://www.trevisobellunosystem.com/tvsys/img/notizie/eu_commissione_europea.jpg

Source: European Commission Spokesperson’s Service

The European Commission has approved a €3.4 billion (DKK 25.2 billion) Danish subsidised loan scheme to support companies in the context of Russia’s war against Ukraine. The scheme was approved
under the State aid
Temporary Crisis Framework
, adopted by the Commission on 23 March
2022
, and amended on 20 July 2022 and
on 28 October
2022
.The subsidised loan scheme consists of two different measures: (i) a payment deferral of the bills for electricity, gas and district heating for all types of companies, administered by
energy suppliers; and (ii) support for a total budget of €29 million (DKK 215 million) for energy suppliers covering their administrative costs linked to the payment deferral of energy bills. The
Commission concluded that the Danish schemes are necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and
the conditions set out in the Temporary Crisis Framework. On this basis, the Commission approved the aid measures under EU State aid rules. Executive Vice-President Margrethe
Vestager, in charge of competition policy, said: “In the current context of economic uncertainty, this €3.4 billion scheme will enable Denmark to provide liquidity support to
companies for deferring part of their energy bills, allowing them to continue their activities.” A press release is available online.

Courses and conferences

Economy

Events

Promo

Senza categoria

Sport