January 31 (SeeNews) - The European Commission (EC) approved a 104 million euro ($113 million) Croatian scheme to reduce the electricity consumption levy imposed on energy-intensive companies, it said on Tuesday.
The scheme aims at mitigating the risk that, due to this levy, energy-intensive companies may transfer their activities to locations outside the EU with less ambitious climate policies, the Commission said in a press release.
The support scheme contributes to the achievement of EU's climate and environmental objectives set out in the European green deal and has been adopted under EU state aid rules. It will run until end-2028.
($=0.922 euro)