Spain awards €17.1m emissions compensation to ArcelorMittal

The Spanish government has awarded €17.1 million ($17.7m) to ArcelorMittal within the compensation mechanism for indirect costs attributable to greenhouse gas emissions reflected in the price of electricity, Kallanish learns from the country’s Ministry of Industry, Commerce and Tourism.

“The competitiveness of the large industry is one of the priorities on the government’s agenda, in addition to guaranteeing a competitive energy price,” says Minister Reyes Maroto. “This grant shows the government’s commitment to reinforcing the industrial capacities and employment of a key sector in Spain, at a time when it is necessary to increase the weight of the industry to accelerate the economic and social recovery.”

Total support for energy-intensive industry amounts to €244m, of which the steel sector has a 37.5% share and the aluminium industry 15%.

The aid is part of the Spanish energy support package for large industries, including compensation for electricity bill charges, intended to finance renewables and high-efficiency co-generation and direct aid to gas-intensive companies. The mechanism also aims to reduce 80% of the cost corresponding to access tolls for electricity transmission and distribution networks.

Todor Kirkov Bulgaria