Energy-intensive industry wins EU approval for renewables cost relief
Compensation for the cost of renewables for the UK’s energy-intensive industries (EIIs) has been approved by the European Commission. Announced on Thursday 18 December, the relief takes effect from the date state aid clearance came through. The policy is intended to provide the UK steel industry greater certainty on energy costs. Business secretary Sajid Javid said: “This is very welcome news and meets a commitment we made to deliver energy compensation for the steel industry by the end of the year. Relief from energy costs will save our steel industry hundreds of millions of pounds.” Guidance will be published by the government in January 2016 and payments will be backdated.