EU Approves 2 Billion Euros in State Aid for Wien Energie

CompaniesRetail & Consumer ♦ Published: April 5, 2023; 00:02 ♦ (Vindobona)

The European Commission has approved 2 Billion Euros in state aid for Austrian energy supplier Wien Energie. This was done to accelerate the energy transition and reduce fuel dependency in the context of the Russo-Ukrainian war, according to the EU Commission.

The EU Commission Has Approved State Aid of 2 Billion Euros for Wien Energie / Picture: © Wikimedia Commons, Bwag, CC BY-SA 4.0

The EU Commission has approved Austria's two-billion-euro aid scheme to support Wien Energie. The Commission concluded that the Austrian scheme was necessary, appropriate, and proportionate "to remedy a serious disturbance in the economy of a Member State", the EU authority announced on Tuesday,