Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you a link to reset your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you a link to reset password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Coal | Electric Power | Petrochemicals

EU refineries, hydrogen producers allowed aid for power costs: EC

Commodities | Energy | Electric Power | Renewables | Natural Gas

Hydrogen: Beyond the Hype

Petrochemicals | Olefins | Polymers

Platts Global Polyolefins Outlook

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Oil | Crude Oil | Refined Products

Crude oil futures steady on stimulus hopes, possible output cut extension

EU refineries, hydrogen producers allowed aid for power costs: EC


New EU ETS state aid rules support electrification

Push to use more low-carbon power, renewable PPAs

Part of EU efforts to be climate neutral by 2050

Brussels — EU refineries, hydrogen and primary polyethylene producers will be allowed to receive state aid to compensate for any higher electricity costs caused by high EU carbon prices, the European Commission said Sept. 21.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The aim is to protect the global competitiveness of these sectors while still encouraging them to switch more of their energy demand to low-carbon electricity, in line with the EU's efforts to become climate neutral by 2050.

These sectors are among those the EC identified as at risk of carbon leakage based on their high indirect emissions costs and strong exposure to international trade, the EC said in updated EU Emissions Trading System state aid guidelines.

Carbon leakage occurs when companies move their plants from the EU to regions with less strict carbon constraints.

National governments will have to ensure that any beneficiaries of such aid conduct an energy audit to look for ways to cut their energy demand and emissions.

The beneficiaries can choose to source at least 30% of their electricity from carbon-free sources to meet their obligations for receiving such aid.

This could involve signing corporate renewable power purchase agreements, for example, said an EU source.

Other options include implementing the energy audit report's recommendations, or investing at least half of the aid into projects that significantly cut the plant's emissions.

National governments have to notify the EC of any planned aid and wait for the EC to approve it before they can make payments.

The EC will use the new guidelines to assess national governments' aid schemes.