EU Considers State Aid for Energy Intensive Companies

The European Union's competition chief, Teresa Ribera, announced on Thursday that member governments may be authorized to provide state aid to energy-intensive companies struggling with soaring electricity costs. This potential support comes as businesses face significant market volatility in oil and gas prices triggered by the conflict in Iran. Speaking at a conference in Germany organized by the antitrust authority Bundeskartellamt, Ribera noted that existing frameworks still offer untapped potential for providing financial relief to heavy energy users.

"For the moment, we have untapped state aid possibilities that member states can still use to give relief to electricity prices of energy-intensive users," Ribera told a conference organised by the German antitrust authority Bundeskartellamt.