August 1, 2018 / 9:47 AM / a year ago

EU regulators okay German aid for efficient cogeneration plants

BRUSSELS, Aug 1 (Reuters) - EU competition regulators cleared on Wednesday a German scheme to cut renewable energy surcharges for companies which produce their own energy from efficient cogeneration plants, saying that the measure was in line with the bloc’s state aid rules.

The European Commission said the scheme did not over-compensate the companies.

Germany introduced the surcharge in 2014 on all companies generating their own power in order to fund the production of renewable energy. However, firms producing their own energy from combined heat and power or cogeneration plants were allowed to pay a reduced surcharge.

Reporting by Foo Yun Chee

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