• The European Commission approved an Austrian subsidy program worth up to 900 million euros for energy-intensive companies.
  • The subsidies are intended to compensate for higher electricity prices caused by emission costs under the EU Emissions Trading System (ETS).
  • The program is open to industries such as iron, steel, aluminum, paper, and chemicals.
  • It covers up to 75% of indirect emission costs from the previous year, calculated based on energy efficiency benchmarks.
  • The goal is to prevent companies from relocating to non-EU countries with less ambitious climate policies.
  • The Federation of Austrian Industries (IV) welcomed the approval and called for the introduction of an industrial electricity price.

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