EURO COMMISSION PROBES ITALY ALCOA ENERGY TAX BREAK
July 1st, 2006
BY KEITH NUTHALL
ALUMINIUM producer Alcoa may have to repay special electricity bill reductions allowed by the Italian government for its smelters in Sardinia and Fusina, near Venice. This follows the launch of a detailed European Commission probe into compensation from a state fund, the Cassa Conguaglio del Mercato Elettrico, for part of their electricity bills. Brussels has already declared it thinks the subsidies break European Union (EU) state aid rules, and the Commission has the authority to block them or force repayment. Alcoa's Sardinia plant, in ...
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