Some 170 Romanian electricity-intensive companies will get state aid worth around EUR 291 million, related to their electricity consumption in 2019-2020, Economica.net reported after consulting official documents.

The Government announced this state aid scheme last week. On May 11, the European Commission announced in a statement that it had approved Romania's plans to grant this state aid, saying that the scheme would cover the period 2019-2020, with a provisional budget of approximately EUR 291 mln.

The grants will offset the costs of CO2 emissions, included in the price of electricity paid by large industrial consumers, under the same model applied in other EU countries.

The amounts provided as state aid will be financed from the sale of the surplus of CO2 emission certificates by the Romanian state, amounting to about EUR 1 billion.

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editor@romania-insider.com