Gov’t offers €700 mln to help industries tackle energy costs

File Photo. [Intime News]

The authorities announced connected Monday a €700 cardinal support strategy to trim vigor costs for 23,000 small and ample concern enterprises.

The programme was announced by Environment and Energy Minister Stavros Papastavrou, Minister for Development Takis Theodorikakos and Deputy Minister for the Environment and Energy Nikos Tsafos.

It provides for the following: An contiguous simplification successful vigor costs for the manufacture amounting to €100 cardinal per year for the adjacent 5 years, delivered done accrued compensation for contamination costs and a 50% simplification successful nationalist utility charges; a measurement relating to contamination costs that will supply an further €75 cardinal per year and is aimed astatine astir 40-50 energy-intensive industries; and a 50% simplification successful utility charges that will use to each industries successful the low-, medium-, and high-voltage categories, astatine an estimated yearly outgo of €26 million, and will take effect connected July 1. Investments successful greenish initiatives, funded done the Modernization Fund for Strategic Investments, will total €200 million.

The money will support investments successful electrification, vigor absorption systems, vigor storage, and heat-recovery technologies, which are expected to present vigor savings of astatine slightest 10%.