Italian model for energy-intensive firms

The authorities is turning its attraction to Greece’s energy-intensive industries, taking measures to trim vigor costs that erode their competitiveness, pursuing the continuous and pressing demands from the sector, that sees its rivals successful Europe supported by their governments with a bid of measures and the competitiveness shortage widening.

Prime Minister Kyriakos Mitsotakis has reportedly fixed the greenish airy to ministers to proceed with the support of the exemplary implemented by Italy, arsenic requested by home industries. The inter-ministerial committee, chaired by Deputy Prime Minister Kostis Hatzidakis and with the information of the ministers of finance, development, and situation and energy, will conscionable adjacent Monday to o.k. it.

The caller mechanics for reducing vigor costs does not interest nonstop subsidies. It will run arsenic a type of “energy loan.” Energy-intensive industries will summation entree to vigor from renewable vigor sources that will beryllium made available to them by the RES head astatine a fixed terms for a play of three years. 

Industries, for their part, will beryllium obliged to conception oregon concern caller RES projects autonomously oregon successful collaboration with producers and to instrumentality the vigor they will person implicit a play of 20 years astatine the aforesaid price. The measurement is expected to supply support to astir 60 concern accumulation plants that devour a total of astir 6 terawatt-hours annually and the outgo is estimated astatine up to 250 cardinal euros per year for the archetypal three years of implementation.

The home industries expect the measurement to beryllium implemented retroactively from July 2025, the day connected which the EU approved the mechanics successful question, code-named Energy Release 2.0, which Italy implemented, without anterior notification to the European Commission, arsenic compatible with state aid.

The Italian authorities person provided Brussels with fiscal information proving that the “subsidy” of the archetypal three years is afloat offset by the instrumentality of vigor implicit a 20-year period.

The adoption of the Italian exemplary is expected to supply important alleviation to Greece’s energy-intensive industries, which are burdened with importantly higher vigor costs adjacent compared to their European peers, which wage two oregon three times much for vigor than the US and China.