State aid
EU may extend easier state-aid rules due to Ukraine war
EU regulators are looking at easing state-aid rules that allow governments to support businesses in Ukraine affected by the conflict to the end of 2023 and with larger amounts allowed, Margrethe Vestager (pictured), competition chief, said on Wednesday (26 October).
March saw the introduction of more flexible rules, which were then revised in July.
The European Commission wants to hear from EU countries about the public guarantees they can offer to energy companies in order to provide financial collateral to their trading activities. This is to offset volatility and high market prices.
The government is also asked to consider how they can make the rules more flexible in order to offer faster and more effective assistance to companies with high energy bills.
"One thing we are discussing is a prorogation for one year, until December 31, 2023. Vestager stated that larger amounts of aid are also being considered during a European Parliament hearing.
She said that the Commission had not yet given approval for several billion euro in state aid.
"Based on the rules that we have, we have taken at least 114 decisions as of 17 Oct. We have also approved 133 national measures notified by 25 members states." Vestager said that the budgets we have approved are approximately €455bn.
She said that the Commission could expand the range of eligible businesses for state aid.
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