Greece establishes ETS compensation scheme

Greece has become the latest EU member state to set up a compensation scheme for energy-intensive industry facing higher power prices due to emissions trading

Greece has become the latest EU member state to set up a compensation scheme for energy-intensive industry facing higher power prices due to emissions trading.

The scheme will allow sectors including chemicals, paper, aluminium and fertilisers to recover some of the ETS costs passed on to them by their electricity suppliers over 2013-20.

The amount of money available each year will be linked to the CO2 price, ranging from €14m if prices are €5 per tonne CO2, to €20m if prices rise to €7.50/tCO2, according to a state aid approval document published by the European Commission.

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