The government negotiates with the European Commission to increase future calls for the maximum threshold. Compensatory aid to industry for CO2 emission costsAs Industry Minister Reyes Maroto explained. Such compensation was previously increased to 244m euros.
Announcing that a package of additional measures was being worked out a week ago to strengthen assistance to the electro-intensive industry due to high energy costs, the head of the department stated that this plan is the aim of the Spanish Government. aimed at protecting large consumers (in the case of the “steel industry”, he stated), which, due to the “extraordinary” state of the situation, has the character of a “European response”, not just a national one, using energy as a weapon war for russia and the concern of “all industrial sectors and especially the steel sector” due to the inability to control gas and electricity prices on the continent.
Both initiatives will form part of the contingency plan proposal that the Spanish Government must submit to the European Commission this month to deal with a potential energy supply interruption, as in the remaining 26 countries of the European Union. .
Currently, Spanish aid to Spain’s electro-intensive and gas-intensive industry (with a large weight in the Asturian production fabric) totals 850 million Euros, through a temporary reduction of 85% of energy tolls for around 600 electro-intensive companies, a permanent Suspension of the tax on bonus electricity generation value (with a 7% tax rate), reduction of the special electricity tax from 5.11% to 0.5% and 200 million Medium and long-term energy purchases and sales (so-called PPA contracts) ) Reserve Fund for the Guarantee of Spanish Electro-intensive Organizations (FERGE) to cover the risks arising from
Maroto made these announcements during a meeting of the Steel Table with representatives from other ministries, autonomous communities and collaborations. The meeting also discussed environmental regulation, revision of the emissions rights trading system, and the future border adjustment mechanism (import tariff that does not cover the cost of carbon emissions) and safeguards.
Maroto also shared the upcoming launch of the PERTE Government (Economic Recovery and Transformation Strategic Project) for decarbonisation, which will co-finance investments in industrial companies with European funds to accelerate this process.