The Government approved on Saturday the extension until the end of December of the support fund for companies that consume large amounts of gas and electricity to respond to the rise in energy prices, according to a decree published in the Official Gazette.
The purpose of this text is “the extension until December 2022 of aid in favor of large energy consumption companies that are particularly affected by the economic and financial consequences of the war in Ukraine due to the increase in the cost of gas supply natural or electricity. “.
As specified at the beginning of September, when this system was extended, which was originally due to end at the end of August, the government also simplified it to allow more companies to use it.
3,000 million euros in loans
Specifically, the State has abolished, for aid with a cap of two million euros, the threshold of a drop of 30% of the gross operating surplus by a quarter, a condition imposed until now to release the aid. A simple drop in this gross operating surplus, calculated monthly with respect to 2021, is already enough.
The system applies to companies whose gas and electricity costs exceed 3% of billing in 2021. It is endowed with 3,000 million euros in credits but was “little used”, hence the simplification, the ministry has stressed.
For the most significant aid, with a cap of 25 and 50 million euros respectively, a relaxation of the criteria is still being discussed with the European Commission, said Bercy, interviewed by AFP.
Source: BFM TV
