EU greenlights support scheme for energy intensive users in Luxembourg

The government will compensate large energy users for higher electricity prices resulting from indirect emissions costs

By Priyanka Shrestha

The European Commission has given the go-ahead for a scheme that supports energy intensive companies for indirect emissions costs in Luxembourg.

The initiative, which will see the government compensate large energy users for higher electricity prices resulting from indirect emissions costs under the EU Emissions Trading System, will cover the period between 2017 and 2020.

It has an overall budget of up to €60 million (£53m) and will provide compensation through a partial refund of electricity costs to eligible companies.

The Commission said: “The measure benefits companies active in sectors facing significant electricity costs and which are particularly exposed to international competition.”