The European Commission is preparing to approve, next week, a Temporary Crisis Framework, designed to compensate energy-intensive industry in the EU for losses incurred during the energy crisis as a result of elevated energy costs, sources have informed energypress.
The TCF is expected to offer eligible producers subsidies reaching up to 50 euros per MWh in 2023, beginning March 1.
The aim of the framework’s implementation is to alleviate the financial burdens that the industrial sector has faced during the energy crisis. These additional costs have had a significant impact on the viability and competitiveness of various industries, particularly those involved in steel, aluminum, glass, and paper production.
The TCF funds will stem from the Energy Transition Fund and will be provided once the framework has been approved by the EU’s Directorate-General for Competition.
In Greece, the TCF was announced by the previous leadership of the energy ministry before the country’s general elections in May and June. However, at that time, the TCF had not been finalized and officially approved. It is now anticipated that the current leadership of the energy ministry will soon take steps to finalize and approve this support framework.