MEPs to vote for EU compensation for indirect ETS costs

The European Parliament’s industry committee looks set to vote for creating an EU fund to compensate industry for rising electricity costs resulting from emissions trading

The European Parliament’s industry committee (ITRE) looks set to vote for creating an EU fund to compensate industry for rising electricity costs resulting from emissions trading.

An agreement between the largest political groups EPP and S&D as well as ALDE and ECR would see 260 million allowances from the revised EU emissions trading scheme (ETS) after 2020 funneled to compensating industry for such indirect costs.

Carbon-intensive industry has been calling for a harmonised arrangement at EU level arguing that relying on member states to provide compensation would put industries in different countries in an unequal position. The European Commission’s proposal last year simply encouraged member states to aid their industry.

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