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French, Portuguese energy schemes clear by EU regulators

 

 

BRUSSELS
Petroleumworld 05 16 2017

EU state aid regulators cleared on Monday Portugal's decision to extend hydropower concessions to incumbent Electricidade de Portugal (EDP), saying the move complied with the bloc's rules.

The European Commission's decision followed a four-year investigation triggered by complaints.

"The compensation paid by EDP for the extension of the hydro power concessions was in line with market conditions," the EU executive said in a statement.

Separately, the Commission also gave the green light to French aid for a gas-fired power plant in Brittany on condition that builder Compagnie Electrique de Bretagne (CEB) does not sell the output to any company with more than 40 percent share of the French power generation capacity market.

CEB is a consortium of Direct Energie and Siemens .

The French support consists of a subsidy of 94,000 euros per megawatt per year over a 20-year period.


Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek from Reuters.

reuters.com May 15, 2017

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