The European Commission and Germany regulators have reportedly reached an agreement on certain laws in the member state that offered tax breaks to some of the largest energy users.
The Commission announced Wednesday that it had given official backing to Germany’s revised energy rules after EU authorities raised concerns that the tax breaks could be deemed anticompetitive. Surcharges to energy bills were added to fund green energy initiatives, though some of the heaviest electricity users were given tax breaks.
Now, Commissioner Joaquin Almunia confirmed that Germany has revised the rules that meet the standards of the EU regulator.
”In the medium term,” Almunia said in a press release,” this should lead to lower costs for consumers. Also the progressive opening up of tenders to operators located in other member states is a very positive development for the internal energy market.”
As part of the revisions, Germany reportedly will allow foreign companies that import energy into the nation to enjoy similar benefits given to domestic energy producers.
The new rules will come into effect on August 1.
Full content: Wall Street Journal
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