EU Commission approves Greek plan for non-household electricity consumers
The European Commission has approved an 800-million-euro Greek program to support non-household electricity consumers in the face of the challenges posed by Russia’s ongoing war against Ukraine.
The scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on March 23 and amended on July 20, based on Article 107(3)(b) of the Treaty on the Functioning of the European Union (‘TFEU’), recognizing that the EU economy is experiencing a serious disturbance.
Commenting on the decision, Commission Executive Vice-President Margrethe Vestager, who is in charge of competition policy, said: “Russia’s unjustified war of aggression against Ukraine continues to negatively affect the EU and the Greek economy. The 800-euro-million scheme approved today will enable Greece to support affected sectors and companies, in particular the smaller ones, by ensuring that sufficient liquidity remains available to them.
“We continue to stand with Ukraine and its people. At the same time, we continue working closely with member states to ensure that national support measures can be put in place in a timely, coordinated and effective way, while protecting the level playing field in the single market,” she added. [AMNA]
